The New Stuff

Yahoo-Image-

Confirmed: Yahoo Lays off 2,000 Employees


 

This morning, Yahoo confirmed the layoff of 2,000 employees in an effort to make the company “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,” Scott Thompson, CEO of Yahoo, said in a statement issued by the company. “Unfortunately, reaching that goal requires the tough decision to eliminate positions. We deeply value our people and all they’ve contributed to Yahoo.”

Through the layoffs, Yahoo expects to realize about $375 million of annual savings. Yahoo also plans to take a $125 to $145 million pretax cash charge relating to employee severance in its second quarter financial results, which it expects to report on April 17.

The layoffs, which had been reported by AllThingsD on Tuesday, may not be the last. AllThingsD reports that Wednedsday’s round is “just the tip of the proverbial iceberg” and more are to come. The company had 14,000 full-time employees before Wednesday’s announcement.

Reps from Yahoo could not be reached for comment on that report.

Yahoo’s waning influence has been the subject of hand-wringing for some time. The company fired CEO Carol Bartz last September and has since replaced her with Thompson, a former PayPal executive. Jerry Yang, Yahoo’s co-founder, also resigned from company’s board of directors that month. Since that time, Yahoo has sued Facebook over patents and Facebook has countersued.

Yahoo’s stock was down about 0.5% at press time on the news.

Image courtesy of Flickr, Eric Hayes

Source: Mashable, Yahoo News

Recently Published

Soap_Making_Banner
»

How To Invest in Soap Making

Nigeria as a country can easily produce quality laundry and toilet ...

Lost-Online-Sales
»

How to Make Sales Online

Your potential consumers want you to care about them and about ...

small-business (1)
»

5 Ways Entrepreneurs Waste Time

#1 Social Media Those hours mindlessly spent on FB, Twitter and ...

star times
»

StarTimes DRC Caught In Political ‘War’ Between Ministers

Pay TV operator StarTimes has been caught in a nasty ‘war’ in the ...

africell
»

Africell DRC To Launch 3G Services End-2014

Africell in the Democratic Republic of Congo (DRC) is set to launch ...

Visio-sbcc_English.vsd
»

How to set up a call centre

Some quick ways to improve your business Call Centres don’t ...

PricePadi
»

Iconway Introduces Online Shopping Service With Launch Of PricePadi.com

Nigerian consumer internet company, Iconway today announces the ...

cloud
»

Pamoja’s Cloud Service Ecosystem Taking Shape In Africa

Pamoja, a leading cloud services and content aggregation business ...

iWay
»

iWayAfrica Uganda Launches High Speed Fibre Access To SME Customers

Pan African telecoms operator, Gondwana International Networks (GIN) ...