Yahoo lays off 2,000 employees (NICKI LOIZZI)

April 4 (Reuters) – Yahoo Inc is laying off 2000
employees, it said on Wednesday, signaling a broad shakeup of

the company.

“Today’s actions are an important next step toward a bold,
new Yahoo — smaller, nimbler, more profitable and better
equipped to innovate as fast as our customers and our industry
require,” said Chief Executive Officer Scott Thompson. “Our goal
is to get back to our core purpose — putting our users and
advertisers first — and we are moving aggressively to achieve
that goal.”

The company declined to comment on severance details.

The layoffs come as Yahoo’s revenue declines amid
competition from Web rivals Google Inc and Facebook,
and as the company fights a proxy battle with hedge fund manager
Daniel Loeb.

Loeb, who runs Third Point, is seeking to appoint four new
directors to Yahoo’s board. Third Point, with a 5.8 percent
stake in Yahoo, is the company’s largest shareholder.

The layoffs had been expected.,0,2838648.story


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.

Leave a Reply

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

You are commenting using your 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 )

Connecting to %s