Yahoo! Restructuring Attempt Sees Layoffs And Fewer Products
Recently, Yahoo! has been in a bit of a decline due to feeling that they’ve had too many irons in the fire, so to speak. Yahoo! boss Scott Thompson said, “Yahoo! has been doing way too much for way too long and was only doing a few things really well.” The plan is to cut around 2000 jobs, about 14% of their entire workforce, and dump or consolidate 50 products currently offered that don’t contribute to their profits. No word yet on what these products will be, but it will surely have a noticeable impact on the way users relate with the search giant.
Thompson, formerly head of mobile payments firm PayPal, became chief executive after months of turmoil at Yahoo!, including deadlocked talks over possibly selling off the company’s valuable assets in China and Japan.
Two weeks after Thompson was recruited, Yahoo! co-founder and former chief executive Jerry Yang resigned from the board of directors.
A few weeks later the chairman and three other directors said they would step down, opening the way for Thompson’s agenda.
That agenda includes trying to “unlock value” of Yahoo! stakes in booming Chinese e-commerce site Alibaba and Yahoo! Japan.
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