yahoologo Yahoo to axe thousands of jobs

Yahoo is planning to lay off many of its employees, with the figure potentially numbering into the thousands, according to people close to the matter.

Yahoo is planning to lay off many of its employees, with the figure potentially numbering into the thousands, according to people close to the matter.

 
The company's new CEO, Scott Thompson, who previously worked for PayPal, replaced Carol Bartz last September after she failed to achieve the turn-around the company was expecting. It looks like Thompson is going to be a bit more ruthless in his approach to rescuing Yahoo's finances.
 
Yahoo has 14,100 staff and could lose a huge number of them, possibly into the thousands, according to anonymous sources cited by AllThingsDigital. The job losses are expected to be in products, research, marketing, PR, and non-essential businesses, suggesting that few sectors of the company will be immune to the axe.
 
yahoohq Yahoo to axe thousands of jobs
 
"As we have indicated, our leadership is engaged in a process that will generate significant strategic change at Yahoo, but final decisions have not yet been made at this point.” the company said, refusing to verify whether or not job cuts were on the table, and, if so, to what extent.
 
The layoffs will hurt a lot of families, but it is likely that Thompson sees little alternative, with the company's revenue dropping by more than a fifth last year. It was once a dominant force on the internet, but its failure to remain relevant in a quickly changing industry means that its future has been under question for a while.
 
Source: Reuters