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)

Icertis Contract Management Goes Live at Chemonics Aug 31, 9:25 pm
Pune, Maharashtra, Aug. 31 (ANI): Icertis, the leading provider of enterprise contract management in the Microsoft Cloud, announced today that Chemonics has gone live with the Icertis Contract Management (ICM) Platform.
Full Story
BSE closes 109.29 points down, Nifty down 30.65 points Aug 31, 5:05 pm
Mumbai, Aug.31 (ANI): The Bombay Stock Exchange (BSE) closed 109.29 points down to stand at 26,283.09, while the National Stock Exchange (Nifty) closed 30.65 points down to stand at 7,971.30.
Full Story
Entrepreneurship workshop held for students in Kashmir Aug 31, 4:53 pm
Srinagar, Aug.31 (ANI): An entrepreneurship workshop was held at the Kashmir University here to draw students to learn more about trade and business, with an aim of furthering employment opportunities in the region.
Full Story
Chinese shares tumble amid intensified regulation Aug 31, 3:47 pm
Beijing, Aug. 31 (ANI): China's stock market saw a weak performance on Monday, ending last week's winning streak, as the government intensifies efforts to crack down on market manipulation.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY