Yahoo’s (NASDAQ: YHOO) CEO, Scott Thompson, who took over the reins just two months ago, is expected to announce some major turnaround plans for struggling internet company.
According to the technology blog, All Things D, the restructure plan might also include thousands of layoffs.
The move to downsize the workforce could be well announced any time soon, probably early in this month. The ailing internet company recently hired the Boston Consulting Group to focus on the cuts to its products group. Cuts may also include departments like research, marketing and public relations and other areas that Thompson does not regard as essential to the Company. At the end of 2011, Yahoo had 14, 100 employees.
In an email statement, Yahoo said “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. Beyond that, we will not comment”.
Meanwhile,
commenting over the layoffs, BGC partner analyst, Colin Gillis said that the widespread talks of layoffs at Yahoo, which has been attempting a turnaround for some while now, has demoralized staff and led to departures of key talent.
Earlier, during his first quarterly earnings call with analysts, Thompson signaled his intensions by saying that said he would focus on striking the right balance between the needs of users and advertisers, media and technology, thoughtfulness and speed, investment in those products that generate revenue for Yahoo today and the ones it’s banking will generate revenue in the future.
Read more at : http://thestockmarketwatch.com/stock-market-news/recent-events/business-news/thousands-of-layoffs-on-the-cards-as-yahoo-plans-major-restructuring-yhoo/22175
According to the technology blog, All Things D, the restructure plan might also include thousands of layoffs.
The move to downsize the workforce could be well announced any time soon, probably early in this month. The ailing internet company recently hired the Boston Consulting Group to focus on the cuts to its products group. Cuts may also include departments like research, marketing and public relations and other areas that Thompson does not regard as essential to the Company. At the end of 2011, Yahoo had 14, 100 employees.
In an email statement, Yahoo said “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. Beyond that, we will not comment”.
Meanwhile,
commenting over the layoffs, BGC partner analyst, Colin Gillis said that the widespread talks of layoffs at Yahoo, which has been attempting a turnaround for some while now, has demoralized staff and led to departures of key talent.
Earlier, during his first quarterly earnings call with analysts, Thompson signaled his intensions by saying that said he would focus on striking the right balance between the needs of users and advertisers, media and technology, thoughtfulness and speed, investment in those products that generate revenue for Yahoo today and the ones it’s banking will generate revenue in the future.
Read more at : http://thestockmarketwatch.com/stock-market-news/recent-events/business-news/thousands-of-layoffs-on-the-cards-as-yahoo-plans-major-restructuring-yhoo/22175
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