Layoffs in Yahoo Set to Begin Next Week

Yahoo Inc. will initiate layoffs of thousands of employees next week and will announce a restructuring plan the following week. The layoffs will occur over time and focus on product, research, and marketing groups, according to anonymous sources from AllThingsD. The restructuring plan will introduce a global media division with decentralized product development. The future of Yahoo advertising and search is unclear. These changes will be the most significant actions taken by new Yahoo! CEO, and former Paypal president, Scott Thompson who joined in January. Yahoo has been dealing with decreasing revenue due to competition from Google and Facebook.

Read the full article here:
Yahoo layoffs to begin next week: report