After giving CEO Carol Bartz the boot (via phone call) last year, Yahoo is now gearing up to let go another 2,000 employees. The company announced the move earlier this morning. Newly minted CEO Scott Thompson gave the following pitch about how the job 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," said Scott Thompson, CEO of Yahoo!. "Unfortunately, reaching that goal requires the tough decision to eliminate positions. We deeply value our people and all they've contributed to Yahoo!."
Yahoo claims the layoffs and restructuring will result in annual savings of around $375 million.
Now, the company doesn't say exactly how it plans to restructure or on which "core businesses" it will focus. All it says is that additional details will be revealed during its first-quarter financial results announcement on April 17. According to CNet News, Yahoo isn't in a great place right now, with too many operations, lagging core services, and investors rebelling against company management.
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