Yahoo plans another round of job cuts
Yahoo is planning another round of redundancies as it continues to struggle with competition from rivals Google and Facebook
Yahoo is reportedly planning another round of job cuts as it continues to struggle in the face of competition from rivals Google and Facebook.
The job cuts – in public relations, marketing, research, marginal businesses and weaker regional businesses, according to the Guardian– will be the first under the leadership of Scott Thompson, who took over as chief executive from Carol Bartz.
Yahoo saw massive job cuts under Carol Bartz, who was ousted by the Yahoo's board in September 2011, when she failed to deliver results.
News of the latest round of layoffs comes just weeks after Yahoo chairman Roy Bostock and three other directors announced they would not stand for re-election, and less than two months after Jerry Yang, co-founder and former chief executive of Yahoo, finally cut ties with the company by resigning from the board.
Yahoo's net income dropped 5% in the fourth quarter of 2011 as the company struggled to keep up with Google in search advertising and Facebook in display advertising.
At the time, Thompson said Yahoo would focus on innovation in core business areas in 2012 to grow the business.
Yahoo has struggled to find a partnership deal attractive to shareholders. Buyers for its Asian assets, including a stake in Chinese internet firm Alibaba, have also proved elusive.