Yahoo Cuts 2,000 Jobs

This could be the first of several rounds of layoffs for the struggling Internet company.

CNNMoney: Today, Yahoo said it will lay off 2,000 employees, or approximately 14 percent of its total workforce. According to the company, the job cuts will save Yahoo $375 million per year. New CEO Scott Thompson called the cuts "an important next step toward a bold, new Yahoo -- smaller, nimbler, more profitable and better equipped to innovate. Our goal is to get back to our core purpose -- putting our users and advertisers first."

Many observers believe that additional rounds of layoffs will follow after this one.

Tags: Yahoo, layoffs

0 Comments (click to add your comment)
Comment and Contribute


(Maximum characters: 1200). You have characters left.



IT Management Daily
Don't miss an article. Subscribe to our newsletter below.

By submitting your information, you agree that datamation.com may send you Datamation offers via email, phone and text message, as well as email offers about other products and services that Datamation believes may be of interest to you. Datamation will process your information in accordance with the Quinstreet Privacy Policy.