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
‘Sherlock’ Creators & Cast On Season 4 Finale's Thrills & Heart; Is This Really ‘The Final Problem’ For The Baker Street Boys?
Ben Silverman & Howard T. Owens' Propagate Launches International Distribution Unit Headed By Cyrus Farrokh
Latest Film News
- ‘Tower’ Survivors Embrace Animation Approach, Director Keith Maitland Says – TCA
- Isabelle Huppert Adds Another Honor As Oscar Noms Loom
- Gerald Levin To Donald Trump On Rep. John Lewis: Have You No Sense Of Decency, Sir?
- ‘Hidden Figures’ Calculates $25M+ Weekend, But Why Are So Many Movies Bombing Over MLK? – Monday AM Update
- Cannes Film Festival Re-Elects Pierre Lescure As President; Lionsgate Inks Deals For ‘Kicking & Screaming’…
- Oprah Winfrey, Van Jones & Ava DuVernay Talk Politics At Netflix Exec’s Home