Yahoo to axe 2,000 jobs in global restructure
Yahoo is eliminating 2,000 of its nearly 14,000-strong global workforce, with sources suggesting around 400 UK-based staff are in consultation.
Yahoo: announces the proposed loss of 2,000 jobs
The company today (4 April) confirmed weeks of speculation that it was taking radical action to cut costs and reshape itself, and began informing "approximately 2,000" staff that their jobs are at risk.
Scott Thompson, CEO of the company since January, said the restructure would make Yahoo "smaller, nimbler, more profitable and better equipped to innovate".
In a statement, the company said it would focus efforts and resources on "a select group of core businesses, the platforms that support those core businesses, and the data that drives deep personalisation for users and ROI for advertisers".
It claims the cuts will result in approximately $375m (£236m) of annualized savings and an extraordinary cost of $125m (£79m) to $145m (£91m).
Yahoo declined to state how many UK staff were affected by the cuts.
Speculation about the latest cuts was first reported early last month.
Follow Daniel Farey-Jones on Twitter @danfareyjones
This article was first published on marketingmagazine.co.uk
Latest jobs Jobs web feed
- PR Account Manager fishtank 24k to 33k per year GBP, Surrey
- Brand Manager Radisson Blu Edwardian, London Competitive , South Kensington, London
- Junior Account Manager fishtank 22k to 28k per year GBP, Buckinghamshire
- senior planner > SPORTS BRANDS collectivo Up to £90,000 plus benefits, London
- Head of Media, Marketing & Communications PGA Competitive, Sutton Coldfield, West Midlands
- Graphic/Web Designer fishtank 27k to 35k per year GBP, United Kingdom
Integrated digital marketing offers huge opportunities to engage, servic...
Mobile marketing is coming of age, and the pace of change is now exponen...
With UK consumers spending an average of £1,083 a year online, int...
Conversational Mobile Marketing: Engage Customers and Empower Advocates (Expert Reports) External website
The pressure is on for marketers and mobile operators to embrace a strat...
As a nation, the UK is media and technology obsessed with over half of t...
All customers have the potential to become your brand advocates, driving...