The layoff of “what could be thousands of employees” would come ahead of an announcement the following week of a restructuring at Yahoo, according to the Wall Street Journal’s All Things D blog. The same blog said this was coming earlier this month. The latest report says most of the cuts from the 14,000-plus work force would come in the products, research and marketing divisions and were decided upon during meetings between CEO Scott Thompson and top management held earlier this week. The overhaul, which the report says will turn the struggling Internet giant into a media- and advertising-focused company, isn’t unexpected: Yahoo is struggling to chart a new course amid turmoil at the top with the firing last year of Carol Bartz as CEO and the resignation from the board of co-founder Jerry Yang. Its stock is down 8.1% over the last 12 months, and 15.6% over the last three years.
Yahoo Layoffs Coming Next Week: AllThingsD
What's Hot on Deadline
'Suits' Finale: Series Creator On Patrick J. Adams & Meghan Markle's Exits, New Twist, Season 8 & Spinoff Details
'Mission: Impossible - Fallout': Tom Cruise Jumped Out Of Plane 106 Times For Skydive Stunt - CinemaCon