Firm plans a "smaller, nimbler" future.
by Gareth Morgan
Yahoo has confirmed it is laying off 2,000 staffers as the one-time Internet star aims to "reshape" itself for the future.
The widely-anticipated job cuts will see Yahoo refocus on a select group of core businesses, aimed at delivering highly personalised services to users and advertisers, said company chief executive, Scott Thompson.
"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," he said.
"Unfortunately, reaching that goal requires the tough decision to eliminate positions."
It has yet to provide detailed guidance on where the redundancies will take place, although it was expected the job cuts would focus on marketing and international operations.
The result will leave Yahoo "smaller, nimbler, more profitable and better equipped to innovate as fast as our customers and our industry require," Thompson added.
Rumors of hefty job losses at the firm have been circulating since Thompson took control of the company in January.
His appointment followed years of decline at the firm, following the rejection of a $44 billion takeover offer from Microsoft.
The company has been through two chief executives, since then, with Carol Bartz the most recent to departure, failing to turnaround Yahoo.
The company said it expects to save $375 million a year as a result of the job cuts, but whether that will be sufficient to drag the firm out of its current problems remains to be seen.
Originally published at V3.
This article was originally published on V3.
Attend ClickZ Live New York March 30 - April 1. With over 15 years' experience delivering industry-leading events, ClickZ Live brings together over 60 expert speakers to offer an action-packed, educationally-focused agenda covering all aspects of digital marketing. Early Bird Rates expire TODAY! Register now and save $300!
Singapore, 5-6 March
Bangkok, 17-18 March
Hong Kong, April 2015
Manage your performance marketing with the right solution. Choose a platform that will mutually empower advertisers and media partners!
To help brands control how they appear online, Google has developed a new offering: Google My Business Locations. This whitepaper helps marketers understand how to use this powerful new tool.
March 3, 2015
1:00pm ET/10:00am PT