Yahoo! cutting! thousands! of! jobs! say! sources!
Company doesn't deny reported cuts
Yahoo! has declined to deny a report that it is planning another massive series of layoffs as it seeks to grow back to its former glories.
Sources within the company told AllThingsD that every division was being examined for cost-cutting, and that the final number of staff to be let go could be numbered in the thousands. CEO Scot Thompson has apparently ordered that everything is up for grabs, and that divisions which can't turn a profit or show significant growth will be axed.
"Some parts will be cut away, leaving resources to go to better efforts," said one person close to the situation, AllThingsD reported. "But this has to be a true change to get this company back on track."
Thompson faces a tough time trying to get Yahoo! into shape after Carol Bartz was unceremoniously given the boot and he came on board. The company has had a series of poor financial results, and has endured fractious shareholders, the loss of its cofounder Jerry Yang (and other board members), and continuing rumors of trying to sell itself off.
"As we have indicated, our leadership is engaged in a process that will generate significant strategic change at Yahoo," the company told El Reg in an emailed statement, "but final decisions have not yet been made at this point. Beyond that, we will not comment." ®