Feeds

Yahoo! axes! 2,000! workers!

Jobs cut to save troubled web biz $375m a year

Reducing security risks from open source software

Yahoo has said that it is laying off about 2,000 employees as it struggles to regain its web crown.

The firm said those at risk would be told of their "job elimination or phased transition" as part of its restructuring, which will save the company $375m every year.

"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," CEO Scott Thompson said in a canned statement.

"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! also said that it expected to fork out between $125m and $145m in employee severances, a figure it will nail down in its Q2 financial results.

The firm said it would reveal more about its "future direction" when it announces its first quarter financial results on 17 April.

Yahoo! has continued to take baby steps along the road to recovery, and despite rumours of sell-offs and changes in management, the company has yet to outline any sort of cohesive plan about where it's going.

Yahoo! was once a dominant force on the web, but has long since been overtaken by the likes of Google and Facebook, a fact that has seriously hacked off its shareholders.

One in particular, Daniel Loeb of Third Point, has been fighting the company at every turn, calling for management heads to roll and trying to get new directors on its board. ®

Reducing security risks from open source software

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.