Yahoo prepping to 'lay off thousands of workers' in massive restructuring

   Mar 31, 10:34 am

San Francisco, Mar 31 (ANI): Embattled Internet firm Yahoo will start laying off thousands of employees next week and would announce a plan to restructure the company, according to a report.

According to technology blog All Things D, the dismissals will be 'deep' and focus on the company's product, research, and marketing units.

The site said Yahoo's goal is 'to cut many thousands' of employees, although not all of the layoffs will come at once, CBS News reports.

According to the website, the Internet giant's tentative restructuring plan is aimed at creating a global media division that includes the company's communications and search businesses, as well as units focused on worldwide and regional sales.

Meanwhile, Yahoo has seen its revenue decline recently amid competition from Web rivals Google, Facebook and other Internet firms.

The firms' stock is down 8.1 percent over the last 12 months, and 15.6 percent over the last three years. (ANI)

CII's launches Village Buddha Project to build strong relation between business and society Aug 1, 6:03 pm
New Delhi, Aug. 1 (ANI): The Confederation of Indian Industry (CII) on Friday launched the Village Buddha Project to build strong relation between business and society.
Full Story
Handloom sector provides employment to many women in Manipur Aug 1, 4:36 pm
Imphal, Aug 1 (ANI): Women in Imphal are earning handsomely by engaging in traditional embroidery work. The credit for this goes to Ranjana Devi, who has been providing training to women in order to make them self-reliant.
Full Story
TMC reaffirms opposition to hike in FDI cap in insurance Aug 1, 2:36 pm
New Delhi, August 1 (ANI): Trinamool Congress (TMC) leader Derek O'Brien reiterated here today that his party will strongly oppose the move to hike the FDI cap in insurance sector from 26 to 49 percent.
Full Story
CII welcomes progressive labour law reforms Aug 1, 1:44 pm
New Delhi, Aug 1 (ANI): The Confederation of Indian Industry (CII) has welcomed the Cabinet nod for Labour Law Reforms in a few important acts as reported in the media today.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY