Yahoo Lays Off 2,000 Employees
Last month, we shared a report by Kara Swisher of AllThingsD that predicted thousands of layoffs at Yahoo; this morning, the tech company officially announced that it will let go of 2,000 employees, a sum that represents some 14 percent of its workforce.
"Today's actions are an important next step toward a bold, new Yahoo — smaller, nimbler, more profitable and better equipped to innovate as fast as our customers and our industry require. We are intensifying our efforts on our core businesses and redeploying resources to our most urgent priorities. Our goal is to get back to our core purpose — putting our users and advertisers first — and we are moving aggressively to achieve that goal," said Scott Thompson, the CEO of Yahoo. "Unfortunately, reaching that goal requires the tough decision to eliminate positions."
Today's cuts will save Yahoo about $375 million, and it's possible that further company restructuring could lead to even more layoffs in the near future. In the official Yahoo statement, the firm expressed its intent to "intensify efforts" in data personalization, some of its core businesses and the platforms needed to support those businesses.
Are you surprised by the depth and breath of the Yahoo layoffs? Do you think Thompson can turn the troubled tech company around?
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