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article imageYahoo! planning reconstruction, major layoffs expected

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By Nicole Byerly     Mar 9, 2012 in Technology
A report released earlier today stated that Yahoo!'s new chief executive Scott Thompson, who has been on the job for a little over two months, is already considering laying off thousands of workers in an attempt to restructuring the company.
Thompson, who left his position as the president of PayPal to join the team at Yahoo! said the layoffs could begin as early as this month. Upon his arrival into the company, four top members of the Yahoo! staff, including co-founder Jerry Yang, have resigned early in the month of January 2012.
This news comes just one day after releasing a statement that the lead computer scientist, Prabhakar Raghavan, who has been the company's head of labs and head of strategy, is leaving Yahoo! for a new position at Google.
Since 2008 after turning down a $48 billion takeover offer by Microsoft, the company has suffered tremendously financially. The fourth quarter statement released by Yahoo! last December shows they have roughly 14,000 employees left. They have since hired Boston Consulting Group as an attempt to create a financial plan to move forward throughout the rest of the year in order to generate higher earnings for the company.
article:320949:12::0
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