Yahoo Cuts 14 Percent Of Its Workforce


As expected Yahoo has today announced that it will be making layoffs throughout the company. But not just a small amount, 14 percent of its workforce, which equates to around 2,000 positions. Yahoo! hopes to realise approximately $375 million of annualised savings upon completion of all employee layoffs.

Yahoo

Hopefully helping it keep the rest of its workforce on its books. Yahoo’s CEP Scott Thompson explains a little more about the layoffs and Yahoo’s plus for the future of the company.

“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,”-“Unfortunately, reaching that goal requires the tough decision to eliminate positions. We deeply value our people and all they’ve contributed to Yahoo!.”

Yahoo will be releasing its first quarter financial results on April 17th, 2012.

Source: Tech Crunch