Business, Economics and Jobs

Yahoo layoffs to begin next week, sources say

Multiple sources have told All Things Digital, a website owned by Dow Jones, that Yahoo Inc. will begin dismissing what could be thousands of employees starting next week. Yahoo currently has a staff of almost 14,000 workers.

The areas that are expected to lose staff include Yahoo’s large products organization, marketing, and research, All Things D reported.

The job cuts will not occur in one go, sources told All Things D, since Yahoo’s senior management has not yet decided how to shed its ad technology organization and possibly its search business.

Yahoo fell behind Facebook in US display advertising in 2011, slipping to 11 percent of the market last year, Bloomberg Businessweek reported. In 2008, Yahoo led the pack with 18 percent of US display ads.

The Sunnyvale, Calif.-company has been conducting a strategic review of its business since it fired its last CEO, Carol Bartz, in Sept. 2011, the Los Angeles Times reported.

More from GlobalPost: Scott Thompson to head up Yahoo Inc.

“We need to innovate and disrupt, and not just in the areas where we’ve always been,” CEO Scott Thompson said on a conference call with analysts on Jan. 24, Bloomberg Businessweek reported. “We will consider new business models and revenue sources and we will build on our core technology and platform expertise.”

Sources told All Things D that Yahoo will announce a new restructuring of the company in the second week of April.

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