Yahoo has been under a lot of contention recently and the recent lay off doesn’t raise many eyebrows. There would be nearly 2,000 people that would be given the pink slip, which is nearly 14% of its total strength. The new Chief Executive, Scott Thompson hopes to revive the company from the recent slump, to a consistent growth with a leaner and more agile company while saving hundreds of millions of dollars.
Yahoo has been doing a lot of reshuffling and this move is not being seen as anything new as the previous two Yahoo CEOs failed to find a solution to the decrease in Yahoo’s market share to rivals Google and Facebook.
After this cutback, Yahoo would be able to save nearly $375 million annually. But there are people who are really skeptical of this move, stating it is just another way to decrease the financial pressure. There have not been any further details of the strategic moves that Yahoo plans to incorporate into its business plan to revamp itself. Cutting jobs won’t solve the problems of the company, which needs a serious relook into its business model.
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