logo
Share SHARE
FONT-SIZE Plus   Neg

Yahoo! To Axe About 2K Jobs - Quick Facts

Yahoo! (YHOO) confirmed that it is taking important steps in reshaping the company for the future, and has identified key parts of the business, a select group of core businesses, the platforms that support those core businesses, and the data that drives deep personalization for users and ROI for advertisers, where it would intensify efforts and redeploy resources worldwide, entirely focusing on enhancing shareholder value.

Therefore, the company would start informing employees about these changes, and as part of that effort, around 2,000 people would be notified of job elimination or phased transition. The company, through its restructuring efforts, plans to grow by responding more quickly to customer needs and competing more effectively in areas where it can win.

Further, Yahoo! expects to realize nearly $375 million of annualized savings upon the close of all employee transitions. The company now sees to recognize the majority of an estimated $125 million - $145 million pretax cash charge relating to employee severance in its second quarter financial results.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
The recent week marked the lull before the storm, with very few market moving economic numbers released during the week. However, the economic news flow picks up pace in the upcoming week, offering glimpses into every vehicle of economic growth, ranging from consumers to private sector activity to housing.... Life expectancy at birth in the U.S. is already lower than most other developed nations and is now projected to fall further behind by 2030, according to a new study. It also suggests that by 2030, national female life expectancy in South Korea could break the 90 year barrier. Department store chain J.C. Penney Co. Inc. on Friday reported a turnaround to profit in the fourth quarter as a slight decline in sales was more than offset by lower expenses. Adjusted earnings per share for the quarter beat analysts' expectations, while revenues slightly missed their estimates. Earlier today, J.C. Penny announced a plan to optimize its national retail operations.
comments powered by Disqus
Follow RTT