Monday, March 5, 2012
Yahoo preparing to restructure with job losses looming
Scott Thompson the new CEO of Yahoo is planning a major restructuring of the company. According to the technical blog All Things Digital there could be thousands of employees laid off.
Thompson a former Pay Pal executive could announce changes as soon as the end of March. The company has hired Boston Consulting group to help guide it through restructuring.
Yahoo released a statements that said in part:"As we have indicated, our leadership is engaged in a process that will generate significant strategic change at Yahoo, but final decisions have not yet been made at this point. Beyond that, we will not comment," Last year Yahoo's revenue dropped by more than one fifth.
The company decided to fire former CEO Carol Bartz in September and since then have done a strategic review to try to decide how things can be turned around. Changes may include selling off some Asian assets and seeking further investment in the company. For more see this article.