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Yahoo Expected to Layoff 2,000 Employees

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Published on Apr 4, 2012

According to Nasdaq.com, Yahoo will begin layoffs this morning in an effort to cut costs.

The internet company is set to announce a 14% cut in its total workforce before the stock market opens today, which could be up to 2,000 of its employees.

This is part of a massive restructuring at Yahoo by its new CEO Scott Thompson. The layoffs will include employees from all departments including its marketing division and products group, which builds and maintains new Yahoo websites and mobile apps.

The move is to boost Yahoo's performance and increase efficiency following a failed turnaround under former CEO Carol Bartz who was fired in September 2011.

This all speculation but Yahoo should be releasing a statement in the next hour or so. Keep it right here to the Financial News Network for the latest update on this story and more of the latest financial news.

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