logo
Share SHARE
FONT-SIZE Plus   Neg

Yahoo Chief Product Officer Blake Irving Leaving Company

Yahoo! Inc.'s (YHOO) chief product officer Blake Irving is leaving the company, amid a turnaround effort by the internet firm.

Yahoo announced a layoff of about 2,000 employees, or 14 percent of its global workforce, on Wednesday as it revamps itself into a slimmer company.

"We are intensifying our efforts on our core businesses and redeploying resources to our most urgent priorities. Our goal is to get back to our core purpose - putting our users and advertisers first - and we are moving aggressively to achieve that goal," CEO Scott Thompson said in a statement at that time.

Irving, who worked earlier for Microsoft Inc. (MSFT), joined Yahoo! in 2010 when Carol Bartz was at the helm of the internet firm. A major part of the layoff that the company has just announced is said to be happening in his side of the business. He is reportedly opposed to tmany changes that Thompson has planned.

YHOO closed on Thursday at $15.06, down $0.21 or 1.34 percent, on a volume of 11.72 million shares.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Shares of AstraZeneca Plc were declining in the morning trading in London after the British drug giant reported Thursday weak profit and revenues in its first quarter, as product sales were hurt mainly by the residual impact of the US Crestor patent expiry. Core profit, however, increased with improved cost control. Further, the company confirmed its financial guidance for 2017. German banking giant Deutsche Bank AG reported Thursday significantly higher profit in its first quarter, mainly reflecting lower expenses and provision for credit losses. Meanwhile, net revenues declined with lower net interest income and weak global markets revenues. Deutsche Bank shares were losing around 3 percent in the morning trading in Germany. Shares of Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) were gaining around 4 percent in the trading in South Korea after the company reported significant growth in its first-quarter profit with higher sales mainly in memory and display businesses. For the full year, the company expects overall earnings to grow from last year.
comments powered by Disqus
Follow RTT