Struggling Yahoo has now decided to cut 2,000 jobs to cut the company expenses and increase the revenue growth. Yahoo has more than 14,000 employees and this is really a hard decision for the company.
Yahoo’s chief executive Scott Thompson had joined the company back in january and aimed to turn Yahoo into a profitable company.
He said in a statement,”We are intensifying our efforts on our core businesses and redeploying resources to our most urgent priorities.”
“Today’s actions are an important next step toward a bold, new Yahoo! — smaller, nimbler, more profitable and better equipped to innovate as fast as our customers and our industry require,” Thompson said.
Yahoo is trying to regain it position as it is facing a hard battle with Google. Its search has failed to keep market with Google and web mail service has been overtaken by social media such as Facebook and Twitter.
“Our goal is to get back to our core purpose — putting our users and advertisers first — and we are moving aggressively to achieve that goal,” he continued.
