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Yahoo is planning to lay off 2,000 employees

Yahoo to lay off 2,000 employees to save money and focus on core businesses.

| Business, Financial & Legal News | Posted: Apr 4, 2012 5:29 pm

After Yahoo gave its former CEO Carol Bartz her walking papers last year, Yahoo is now in the process of laying of 2,000 additional employees. This move was announced earlier today. Not all the details are fully known, but more are supposed to be coming forth during its first-quarter financial results announcement on April 17.

 

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The layoffs are expected to save $375 million annually. The new CEO Scott Thompson said the following about how the cuts are supposed to help the firm:

 

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. We are intensifying our efforts on our core businesses and redeploying resources to our most urgent priorities. 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. Unfortunately, reaching that goal requires the tough decision to eliminate positions. We deeply value our people and all they've contributed to Yahoo!.

NEWS SOURCES:Techreport.com

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