It's not been that long since we brought you news of Jerry Yang, co-founder of Yahoo and his decision to leave the company.
In yet another blow for the company, Yahoo’s new CEO, Scott Thompson has announced the company’s
plans to lay off 2,000 of their current staff. The company employs around 15,000
people around the world. The loss of jobs is around 15 per cent of Yahoo’s
total staff. At the end of 2010, then CEO, Carol Bartz trimmed the staff by 4%
Scott Thompson explained:
“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. 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!”
It is estimated the job cuts will save Yahoo about $375
million a year.
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