Yahoo Lays Off, Restructures
As earlier reports predicted, Yahoo just announced massive layoffs. On Wednesday alone, the beset portal said some 2,000 employees, or 14% of the company, could expect pink slips -- and that’s likely just the beginning.
“Today’s actions are an important next step toward a bold, new Yahoo,” the company said in a statement. “Smaller, nimbler, more profitable and better equipped to innovate as fast as our customers and our industry require.”
“While Yahoo has had periodic layoffs over the years, this one is its most significant in its history and will also result in another large-scale restructuring of the management organization,” writes AllThingsD. “More cuts are also likely to follow in the months ahead, due to the reshaping of Yahoo.”
“We’ll have to wait to see what remains of Yahoo after the dust settles -- but it’s looking like not much,” reasons Search Engine Land. “Oh, the humanity.”
“Yahoo says that it will save $375 million upon completion of the layoffs,” TechCrunch reports. “The company currently expects $125 to $145 million in a pretax cash charge relating to employee severance packages.”
“The Internet company said the job cuts would not be across the board, and that it would double down in key areas,” reports The New York Times.
Yet, “Yahoo was surprisingly coy about its plans,” according to CNet. “The company said that it has identified areas where it believes it can grow its business and increase return on investment for advertisers. However, it didn't say how it plans to achieve that goal nor when investors -- we'll see what they make of the layoffs -- should expect to see some improvement.”
Vague or not, Macquarie analyst Ben Schachter sees the layoffs as a start in determining a new direction for the company. Regarding Yahoo’s recently appointed CEO he tells Reuters: “Scott Thompson is not there to tweak the business … He saw something in the assets to make him think there was potential."
Recent Around the Net In Online Marketing Articles
-
Cheaper Nook's Getting Web Browsers, Email May 20, 11:25 a.m.
Nook Simple Touch, Barnes & Noble’s inexpensive line of e-readers, is getting a Web browser and ...
-
Foursquare Gets $41M In Private Equity April 11, 11:34 a.m.
Giving itself more time to grow and mature as a business, Foursquare just took $41 million ...
-
Google Unveils Google Keep App March 21, 11:29 a.m.
Confirming earlier reports, Google on Thursday unveiled a new note-taking app named Google Keep. But, despite ...
-
Nexflix Friends Facebook March 13, 2:29 p.m.
In what Web watchers are calling a long-overdue integration, Netflix has finally tapped Facebook to offer ...
-
Mason Out At Groupon March 1, 10:45 a.m.
Andrew Mason is out at Groupon. Yes, after another disappointing quarter -- which sent the deal ...
-
Groupon Loses Market Value Feb. 28, 11:34 a.m.
In the surest sign yet that the once-booming daily-deal space has busted, Groupon lost a quarter ...
-
Foursquare To Take Credit, Debit Cards Feb. 26, 11:23 a.m.
In conjunction with its check-in deals program, Foursquare will now accept Visa, Mastercard and debit cards. ...
-
Pinterest Valued At $2.5B Feb. 21, 12:47 p.m.
Social scrapbooking sensation Pinterest has secured $200 million at a valuation of $2.5 billion. “There have ...
-
HP To Adopt Google's Android System Feb. 14, 11:59 a.m.
Reshaping the mobile landscape, Hewlett-Packard reportedly plans to adopt Google’s Android operating system to run a ...
-
Amazon Creating App Currency Feb. 5, 11:11 a.m.
Amazon on Tuesday unveiled a virtual currency for Kindle Fire owners to purchase apps and games, ...
1 comment on "Yahoo Lays Off, Restructures".
Leave a Comment