Yahoo layoffs to begin next week: report

SAN FRANCISCO Fri Mar 30, 2012 2:57pm EDT

The Yahoo! offices are pictured in Santa Monica, California April 18, 2011. Yahoo! will report its quarterly results on Tuesday. REUTERS/Mario Anzuoni

The Yahoo! offices are pictured in Santa Monica, California April 18, 2011. Yahoo! will report its quarterly results on Tuesday.

Credit: Reuters/Mario Anzuoni

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SAN FRANCISCO (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.

(Reporting By Alexei Oreskovic; Editing by Gerald E. McCormick)

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Comments (3)
Harry079 wrote:
Wow!

I went back in my Yahoo e-mail and the oldest one was a response I got from C. Ruddy(Newsmax) in 1999.

Gee how time flies.

Mar 30, 2012 12:48am EDT  --  Report as abuse
Jeepgirl wrote:
Is this in thanks to Mr. Obama’s plans or to the higher corporate and state taxes?

Yahoo is my #1 search engine, handles my server and my e-mails.

I pay them monthly. I wonder what will happen next. :-(

Apr 01, 2012 8:20pm EDT  --  Report as abuse
cbrooks133 wrote:
This has nothing to do with taxes. This has to do with lack of innovation and lack of corporate strategy. Jeepgirl are you for real or perhaps slightly retarded?

Apr 02, 2012 5:10pm EDT  --  Report as abuse
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