Yahoo! Inc.'s (YHOO: Quote) 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.
Click here to receive FREE breaking news email alerts for Yahoo! Inc. and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Business News