Yahoo layoffs to begin next week: report
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)
- White House reverses, says Obama met uncle and lived with him during law school
- Flights delayed as air pollution hits record in Shanghai
- South Africa mourns Mandela, will bury him on December 15 |
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- Analysis: Boeing bidders dangle goodies to win 777X jetliner
Nelson Mandela: 1918 - 2013
Reuters looks at the life and times of Nelson Mandela, an icon of peace and reconciliation who came to embody the struggle for justice around the world. Video