Yahoo May Layoff Thousands Next Week

By Joe Eitel March 30, 2012

Anonymous sources broke the news today that Yahoo plans to lay off thousands of employees starting next week. The following week, Yahoo plans to roll out a new restructuring plan for the future of the company.

Reuters reports the layoffs will not take place all at once, but rather gradually over a period of weeks. News was released at the blog AllThingsD, stating there were several anonymous sources claiming the news was indeed true.

The layoffs will reportedly affect primarily the marketing, product and research groups at Yahoo. The goal, according to AllThingsD, is to cut thousands of employees from the close to 14,000 currently working for Yahoo. There are about 2,500 employees in these departments at Yahoo.

Yahoo’s reorganization plan reportedly includes the creation of a global media division consisting of decentralized units. Yahoo’s advertising business and search engine may also be restructured or eliminated in the coming weeks. Scott Thompson, Chief Executive at Yahoo, has already spoken with Google and Microsoft regarding Yahoo’s ad and search engine business, according to AllThingsD.

The layoff and restricting plan would mark the biggest move by Thompson, the former president of PayPal, who took the lead position at Yahoo in January. Thompson, along with consultants from Boston Consulting Group, presented the reorganization plan to yahoo senior executives this past Tuesday.

Yahoo ended 2011 with a decline in revenues due in part to stiff competition by Facebook and Google.

There’s certainly more news to come in the next two weeks regarding Yahoo’s layoffs and reorganization plan.




Edited by Braden Becker

TechZone360 Contributing Writer

SHARE THIS ARTICLE
Related Articles

How to Buy a Laptop in 2016: Oh the Choices...

By: Rob Enderle    8/29/2016

Currently people are replacing their laptop computers about once every five years, and for those reaching that five-year due date, the next couple of …

Read More

Wearable Camera Market Climbs to New Heights

By: Alicia Young    8/29/2016

Wearable cameras are becoming increasingly popular thanks to thrill-seekers. After all, it's much easier to record yourself skydiving or mountain clim…

Read More

Ford's Autonomous Car Plan Implies We're Idiots

By: Rob Enderle    8/29/2016

According to CrashStats, about 18 percent of injury crashes, and 16 percent of all police reported crashes were caused largely because we weren't actu…

Read More

Apple Goes Social with Video Editing App

By: Alicia Young    8/26/2016

The goal is to offer simple video editing with tools that appeal to millennials and upcoming generations-the people who grew up surrounded by social m…

Read More

How Do the Year's Threat Predictions Match Reality?

By: Special Guest    8/24/2016

Last year, Fortinet's FortiGuard Labs global threat research team made a series of predictions about cyber threats in 2016. We are now halfway through…

Read More