Sunnyvale, Calif. – Three months into his reign as CEO of Yahoo, Scott Thompson is preparing a massive restructuring of the struggling company that’s likely to include thousands of layoffs, Dow Jones’ All Things D reported, citing “multiple sources both inside and outside” the company.
The cuts are expected to target multiple departments, with an emphasis on large product groups.
Yahoo recently retained Boston Consulting Group to help determine its best options for growth, and could make an official announcement about the cuts before the end of this month.
“Our leadership is engaged in a process that will generate significant strategic change at Yahoo, but final decisions have not yet been made at this point,” Yahoo said in a statement to All Things D. The company had 14,100 employees at the end of last quarter.
This article was also published in Potomac Tech Wire.
Photo by Flickr user Yodel Anecdotal, used under Creative Commons license