Feeds

Yahoo! axes! 2,000! workers!

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

Providing a secure and efficient Helpdesk

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. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
4chan outraged by Emma Watson nudie photo leak SCAM
In the immortal words of Shaggy, it wasn't me us ... amirite?
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.