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Yahoo Cuts 2,000 Employees
RENEE MONTAGNE, HOST:
NPR's business news starts with layoffs at Yahoo.
(SOUNDBITE OF MUSIC)
MONTAGNE: Two thousand employees at Yahoo are receiving pink slips today. The cuts will reduce the company's staff by about 14 percent, part of the turnaround plan by new CEO Scott Thompson. He's the third CEO at the Internet firm in four years. During that time, Yahoo has seen several other mass layoffs, though today's announcement marks the deepest cuts to date. Thompson is trying to focus Yahoo on better analyzing the personal data of users in order to raise more advertising revenue. He also wants to improve the way people use Yahoo on mobile devices. Transcript provided by NPR, Copyright National Public Radio.