The layoff of “what could be thousands of employees” would come ahead of an announcement the following week of a restructuring at Yahoo, according to the Wall Street Journal’s All Things D blog. The same blog said this was coming earlier this month. The latest report says most of the cuts from the 14,000-plus work force would come in the products, research and marketing divisions and were decided upon during meetings between CEO Scott Thompson and top management held earlier this week. The overhaul, which the report says will turn the struggling Internet giant into a media- and advertising-focused company, isn’t unexpected: Yahoo is struggling to chart a new course amid turmoil at the top with the firing last year of Carol Bartz as CEO and the resignation from the board of co-founder Jerry Yang. Its stock is down 8.1% over the last 12 months, and 15.6% over the last three years.
Related: Yahoo Revenues And Earnings Fall In 4Q But Match Expectations
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Bartz and Yang have literally ruined this company to a point where it might take years to rebrand and re-invigorize this company to respectable levels once again. Thompson has a hell of a challenge ahead of him though. For one thing, they actually have that turd Zucker on their board of directors, so what does that say for Yahoo?
Once upon a time Yahoo was a nice place. Then they got one, greedy, two, stupid, and three, forgot what they were there for. After that it was all downhill. Now Yahoo is a place to stop briefly on the way to somewhere else. I have a Yahoo mail account, so I don’t get spam at my other accounts. And they once had a nice chat area, but they wrecked that too. Too bad. So what do they really have left that can be fixed and used to bring them back? I have no idea.
Who the hell runs their original programming ? What a moron …
Biggest problem with this company – they choose idiots with NO entertainment experience / contacts to run operations centered around (you guessed it) ENTERTAINMENT — My 3 year old niece knows that toys go in the toy box … food goes in the fridge … etc.
Glad to see that Y! is finally going to cut half their staff. Way too many contractors and way too many internal transfers from BLR. Its time to clean house like never before. That will bring the stocks back to 30 bucks. Nothing else matters. This is still a highly profitable company just way too much baggage.