Close on the heels of a new CEO taking charge at Yahoo!, the internet giant is likely to cut thousands of jobs as part of a major restructuring exercise of its operations so as to cope with market share losses. Yahoo, is looking for ways to increase efficiency following a failed turnaround effort under Carol Bartz, who was fired as CEO in September. Most of the changes at Yahoo! could be related to its products division and other areas where it has struggled. Public relations and marketing, research, are among those considered as potential targets of the company.
Online advertisers have increasingly turned to rivals such as social network Facebook Inc. and search engine Google Inc., websites where users are spending more time each month. Yahoo is considering new business models and revenue sources and that of building its core technology and platform expertise.
Source: The Financial Express