Yahoo Restructuring Might Include Thousands of Layoffs
Yahoo is reportedly about to go under more major restructuring after the recent resignation of former co-founder and CEO Jerry Yang. Scott Thompson, the struggling Internet media company’s new CEO, is rumored to be working with Boston Consulting Group on creating a restructuring plan, according to a report by All Things Digital. The plan could be released to the public as early as late March.
Both Boston Consulting Group and Yahoo did not comment or substantiate the report.
Thompson is the latest in a series of Yahoo leaders looking to turn the fortunes of the search engine company around. His approach has been much more aggressive than previous leaders, with his first act as CEO being to threaten patent litigation against Facebook.
"In 2012 we will be aligning resources behind key areas of focus to enable us to move aggressively in market and grow our business, bringing innovative new products and experiences to both our users and advertisers," Yahoo chief executive Scott Thompson said at the time of his appointment.
Unfortunately, the most recent change was the resignation of Yahoo Labs head Prabhavar Raghavan, who is leaving Yahoo for Google. Rumors say that Raghavan’s leaving was motivated by expected job and money cuts to the Yahoo research and development department.
It seems Yahoo has lost its way as other Internet players such as Google, Apple, and Facebook have steered safely to success. Hopefully the new restructuring will bring about positive changes and positive revenue for the company.