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

Rest Your Weary Fingers: Voice Activation is Coming to a CRM Near You

By: Special Guest    8/9/2017

We spend a lot of time talking to our gadgets these days. Whether we're seeking directions from Siri or weather updates from Alexa, speech is quickly …

Read More

Kevin Kennedy Stepping Down, Will New Leadership Help Guide Avaya Back into Prominence?

By: Erik Linask    8/7/2017

After more than eight years as Avaya's chief executive, Kevin Kennedy will be stepping down from that role as of October 1, 2017. He'll be replaced by…

Read More

Micro-CT Scans Allow Researchers to Study Live Insects in 3D

By: Kayla Matthews    8/7/2017

The things we don't know about the natural world could fill textbooks. That's why excitement is the most appropriate response when we discover new way…

Read More

Gogo Making Air Travel More Productive

By: Erik Linask    8/4/2017

Gogo created tremendous hype when it first enabled in-flight connectivity on American Airlines, back in 2008. But, anyone who has used in-flight Wi-Fi…

Read More

Can We Run Out of Internet?

By: Special Guest    8/3/2017

As little as ten years ago, you couldn't discover new things like you can today. Whether you consider this to be a curse or a blessing, the content av…

Read More