TechCrunch reports Yahoo is planning of laying off between 1,000 and 3,000 employees. Yahoo Plans Major Cost Cuts, Including Layoffs from the Wall Street Journal expect the cuts to start as early as tomorrow.
The cuts come after Yahoo hired consulting firm Bain & Co. to cut costs and improve efficiencies.
Yahoo has been struggling for a long time now. From Terry Semel, Yahoo’s ex-CEO, to Jerry Yang, to the Microsoft discussions and AOL rumors – Yahoo’s stock price has been hurting. Now, in these recessionary times, Yahoo hopes to turn things around with cost cuts and efficiencies improvements.