Yahoo’s new CEO Scott Thompson has started his tenure by announcing a major job cut.
The company is cutting around 2000 jobs in their operations. This comes to around 14% of their entire workforce.
This is incidentally the six major job cut announced by the company in the last four years. Yahoo has seen three different CEOs in this time period.
Yahoo continues to struggle to compete against the likes of Google, Microsoft and now Facebook.
They recently launched a patent lawsuit against Facebook and Facebook retaliated by filing their own patent lawsuit against Yahoo.