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Yahoo Cutting 2,000 Jobs Today, More in the Future

Yahoo, the Internet giant located in Silicon Valley will lay off approximately 2000 employees today or in the following few. Moreover, this will be just a warm-up for officials, as more and possibly bigger rounds or firings are expected to hit in a couple of months.

These changes in personnel are part of a restructuring plan projected by the new CEO, Scott Thompson, and should affect all departments, with the product division being hit hardest.

Moreover, Yahoo's advertising technology and search business is thought likely to be sold in the near future. Also affected will be Yahoo's local business, the marketing and research department and media units suffering the most.

Sources also claim this to be only the start, with Thompson sending memos to some employees and advising in meetings that the "real change" is yet to come. Also, a restructuring plan will be announced next week, which could include even larger waves of layoffs. Yahoo currently has 14,000 employees.

Yahoo's problems don't end here, the company also suffering from a Facebook patent attack and a fight for board seats from shareholder Third Point as well as changes in the upper-parts of the staff.

Source: AllThingsD