Big troubles: Yahoo! to fire 2,000 employees

Yahoo plans to lay off 2,000 employees, representing 14.3% of company’s total employment, and this decision signals a broad reorganization of the Internet giant, reports Reuters.

The measures announced Wednesday represent an important step toward a Yahoo! company which aims to be smaller, faster, more profitable and better equipped in order to innovate as fast as required by customers and industry,” said general manager Scott Thompson. He noted that Yahoo! inention is to return to its primary objective, to focus on users and advertisers. Yahoo!, which had 14,000 employees at the end of 2011, will achieve annual savings of 375 million dollars following redundancies. The company will feature in the second quarter costs of $ 125-145 million due to its reorganization plan.
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Yahoo to dismiss 2000 employees from work as a revenue growth measure

However some analysts are skeptical about the effectiveness of redundancies, which were largely anticipated. “You can not return to revenue growth through layoffs. People want to see a plan and statistics on the revenue growth,” said Colin Gillis, an analyst at BGC Partners. Yahoo! revenues are declining due to harsh competition coming from Google and Facebook. Last year Yahoo’s profit dropped by 14.6%, from 1.23 billion dollars in 2010 to $1.05 billion, in the context of a 21% revenue decline to $5 billion.