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.
http://www.chicagotribune.com/sns-rt-yahoolayoffl2e8f41up-20120404,0,2838648.story
