Yahoo Inc. Chief Executive Officer Scott Thompson is arranging for thousands of layoffs and a major restructuring of the Internet giant’s operations. These changes are expected to be announce at the end of the month and will target Yahoo’s products division and other areas in which the company has lagged, including public relations and marketing, research, marginal businesses, and weaker regional efforts.
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The Boston Consulting Group was recently hired by Thompson to help focus the company on growth initiatives and the best course of action for Yahoo to undertake in developing the company. Thompson has been chief executive since the beginning of2 2012, having previously worked at Microsoft since 1999.
Since taking charge, Thompson has been pushing for change and engaging in controversial decisions to jump start the company. Thompson has said that his interests lie in preserving Yahoo’s current streams of revenue in addition to looking for new business models and revenue scores. Analysts predicts that under Thompson’s leadership, Yahoo will transform itself into a more efficient company, making its stock more valuable to investors.
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