Yahoo to axe 2,000 jobs in global restructure

Yahoo: announces the proposed loss of 2,000 jobs
Yahoo: announces the proposed loss of 2,000 jobs

Yahoo is eliminating 2,000 of its nearly 14,000-strong global workforce, with sources suggesting around 400 UK-based staff are in consultation.

The company today (4 April) confirmed weeks of speculation that it was taking radical action to cut costs and reshape itself, and began informing "approximately 2,000" staff that their jobs are at risk.

Scott Thompson, CEO of the company since January, said the restructure would make Yahoo "smaller, nimbler, more profitable and better equipped to innovate".

In a statement, the company said it would focus efforts and resources on "a select group of core businesses, the platforms that support those core businesses, and the data that drives deep personalisation for users and ROI for advertisers".

It claims the cuts will result in approximately $375m (£236m) of annualized savings and an extraordinary cost of $125m (£79m) to $145m (£91m).

Yahoo declined to state how many UK staff were affected by the cuts.

Speculation about the latest cuts was first reported early last month.

Follow Daniel Farey-Jones on Twitter @danfareyjones

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