New Yahoo CEO Prepares ‘Thousands’ of Layoffs

 

The new chief executive of troubled tech giant Yahoo is planning a major reorganization that could result in “thousands” of layoffs, according to a new report by AllThingsD’s Kara Swisher. Such a shakeup, which could begin as soon as the end of the month, would be only the latest attempt by Yahoo to reinvigorate its business after years of decline.

New CEO Scott Thompson, who joined the company following the departure of Carol Bartz last fall, has embarked on a mission to get Yahoo’s house in order. As part of that effort, he has brought in Boston Consulting Group to help identify the company’s strengths and best position it for the road ahead. The layoffs could affect Yahoo’s products division, as well as “public relations and marketing, research, marginal businesses and weaker regional efforts,” according to the report.

In an ominous sign for Yahoo’s 14,000 employees, Swisher reports that although Yahoo has experienced rounds of layoffs in the past, “none has been as large as what is now being contemplated to slash costs.” One manager is quoted as saying that the cuts will be “deep.”

Read more: http://business.time.com/2012/03/06/new-yahoo-ceo-prepares-thousands-of-layoffs-report/#ixzz1oNbwuiu9

Advertisements

About internalmarket

This blog and its accompanying Twitter account have been established as social media learning tools for the Internal Communications and Employee Engagement class at Columbia College Chicago. Through this blog, we will share our observations about current events, change management and employee communications theory, and the application of social media in shaping employee engagement.
This entry was posted in Uncategorized. Bookmark the permalink.

One Response to New Yahoo CEO Prepares ‘Thousands’ of Layoffs

  1. internalmarket says:

    (Nicole)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s