Yahoo layoffs to begin next week: report
Saturday, March 31st, 2012 10:20:52 by Awais Khan
(Reuters) – Yahoo Inc will begin layoffs of thousands of employees next week and will announce a plan to restructure the company the week after that, according to a media report.
Yahoo declined to comment.
The layoffs, which will not take place all at once, will mostly affect Yahoo’s product, research and marketing groups, according to the report in the blog AllThingsD, which cited anonymous sources.
Under a plan still being finalized, Yahoo would reorganize its business to create a global media division, while product development would move to decentralized units. The company is figuring out the future of its advertising technology business, as well
as its search business, according to the report.
The layoffs and reorganization would mark the most significant moves by new Chief Executive Scott Thompson, the former PayPal president who took the top job at Yahoo in January.
Yahoo, which ended 2011 with roughly 14,000 employees, has seen its revenue decline amid competition from Web rivals Google Inc and Facebook.
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Posted by Awais Khan
on Mar 31 2012. Filed under Sci-Tech.
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