The damage could be “in the thousands” and could take place by the end of this month, AllThingsD reports. The website says that Yahoo CEO Scott Thompson is targeting the company’s large products organization, as well as “public relations and marketing, research, marginal businesses and weaker regional efforts.” Thompson wants to concentrate on growth businesses, and has hired Boston Consulting Group to help him chart the company’s course. He’s under a lot of pressure to give an adrenaline jolt to the Web content and search company, whose stock is down 14.8% over the last 12 months. Last month, hedge fund Third Point launched a campaign to elect four of its own candidates — including former NBCUniversal chief Jeff Zucker — to the board. “Installing the hand-picked choices of the current board does nothing to allay investor fears that Yahoo is poised to repeat the errors of its past,” the hedge fund said. Yahoo said that Third Point was on a “potentially disruptive path, just as the Company is moving forward under new leadership to aggressively increase the value of Yahoo! for the benefit of all of its shareholders.”
Yahoo Plans Massive Layoffs: Report
What's Hot on Deadline
Quentin Tarantino Steals The Show At Sony's Slick Presentation Of A Pretty Dark Slate And Very Special Dog - CinemaCon
Quentin Tarantino & Leonardo DiCaprio Make Surprise Appearance At CinemaCon To Talk 'Once Upon A Time In Hollywood'
'Avengers: Infinity War' Clip: 'Jimmy Kimmel Live!' Debuts Exclusive Look At Marvel's Ultimate Team-Up Pic
Donald Trump Threatens Iran, Blasts Michael Cohen Question, Plucks Dandruff Off Emmanuel Macron At Mad Photo Op
Latest Film News
- ‘House 2’: “I Hope Secretary Of Defense James Mattis Sees Haditha Massacre Doc” Says Director Michael Epstein…
- Imax Inks Deals With AMC & Cineworld To Expand New Laser System – CinemaCon
- Epic Pictures Unveils ‘The Golem’ As First Original Production For Dread Central Presents
- A Subdued Lars Von Trier Talks Cannes Comeback Movie & Addiction: "I Felt Horrible During Filming"
- BAFTA Sets Film Awards Dates; ‘Nowhere’ Starts Lensing In Canada – Global Briefs
- ‘Rampage’ Rounds $217M Overseas; ‘A Quiet Place’ Cranks WW Volume To $207M – International Box…