Yahoo! admits ‘job elimination’ of 2,000 members of staff
Yahoo! has confirmed that approximately 2,000 workers will lose their jobs as part of plans to reshape the company for the future.
The company said in a statement that it would notify employees today about the ‘job elimination or phased transition’, and that the changes will allow it to work more effectively.
Scott Thompson, CEO of Yahoo!, said: "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!."
Yahoo! has said that $375m will be saved from these job reductions in a year, with several roles to be merged.
Rich Riley, managing director of EMEA, added: "We plan to evolve our definition of the various roles involved in delivering our display advertising business.
"We think there are opportunities to make this process more efficient, faster and to better serve our advertisers.”