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Yahoo to cut 14% of staff

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Must Reads
Wednesday, April 04, 2012

Yahoo is laying off 2,000 employees to cut costs, in a long-expected move.

The company announced cuts of about 2,000 employees, or 14% of its 14,000 work force, but further cuts are expected, said a person familiar with the matter. The layoffs are expected to span Yahoo's many departments, including its marketing division and product group, which builds and maintains new Yahoo websites and mobile apps.
"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," Chief Executive Scott Thompson said in a statement. "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.''

Read more at The Wall Street Journal.

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