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)

Toshiba wins major order in Malaysia for 2,000 MW ultra-super-critical steam turbine Sep 2, 6:03 pm
Tokyo, Sept. 2 (ANI): Toshiba Corporation, one of the world's leading suppliers of thermal power generation equipment, today announced that a consortium of Toshiba, IHI Corporation, Hyundai Engineering Co., Ltd. and Hyundai Engineering and Construction Co., Ltd., has won an engineering, procurement and construction contract (EPC Contract) for a 2,000 MW ultra-super-critical coal-fired power generation project in Mukim Jimah in Negeri Sembilan, Malaysia (Project).
Full Story
Canadian companies look to expand partnerships with India in renewable energy Sep 2, 1:03 pm
New Delhi, Sept. 2 (ANI): A delegation of 16 Canadian companies will arrive in India this week to attend the 8th Renewable Energy India 2014 Expo to be held in Greater Noida from September 3 to 5.
Full Story
India PC shipments in Q2 plunges 28 percent YOY Sep 1, 6:50 pm
Washington, Sep 1 (ANI): Recent findings from IDC shows that India PC shipment stands at 2.55 million units in second quarter, plunging 28 percent year-on-year but rising of 24 percent quarter-on-quarter.
Full Story
Japan's disaster preparedness and agri-research 'remarkable' Sep 1, 5:38 pm
Tokyo, Sept. 1 (ANI): Japan's experience with the Great Earthquake and the Sarin gas attack in Tokyo subway by terrorists has prompted the Tokyo Metropolitan Government to undertake a range of disaster prevention and management measures.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY