Big Cuts At Yahoo!
SAN FRANCISCO (AP) — Yahoo is laying off 2,000 employees as new CEO Scott Thompson sweeps out jobs that don’t fit into his plans for turning around the beleaguered Internet company.
The cuts announced Wednesday represent 14 percent of the 14,100 workers employed by Yahoo, which is based in Sunnyvale, Calif.
The housecleaning marks Yahoo’s sixth mass layoff in the past four years under three different CEOs. This one will inflict the deepest cuts yet, eclipsing a cost-cutting spree that laid off 1,500 workers in late 2008 as Yahoo tried to cope with the Great Recession.
Thompson is making his move three months after Yahoo lured him away from his previous job running eBay Inc.’s online payment service, PayPal.