Daily Recession covers the world as it goes into recession. The financial crisis, stock market crash, bankruptcies, job cuts, and the turmoil that follows.

Yahoo to cut 2000 jobs

Posted: April 5th, 2012 | Author: | Filed under: By Location, USA | Tags: , | No Comments »

Yahoo Inc will lay off 2,000 people, or 15% of its workforce, in its deepest round of job cuts in years as new CEO Scott Thompson tries to drive innovation within a leaner, more agile company while saving hundreds of millions of dollars.

Wall Street was again dubious that the move would drive growth, which flagged under two previous CEOs who failed to find an answer to the likes of Google and Facebook, even as Thompson said he was intensifying company’s focus on its core businesses.

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