Yahoo Tipped To Be 'Restructuring', Firing Employees

Word has surfaced alleging Yahoo began firing employees yesterday in what was a surprise move leaving many people feeling "kind of shell-shocked". The news comes from sources familiar with the matter who state the cuts took place in multiple groups throughout the company, and that they were made as part of a restructuring plan, the specifics of which being unknown at this point. Program/product managers and designers are said to be included among those being let go, though engineers are reportedly staying put for now.

The news comes from Business Insider, which reports that it has heard from "several" sources providing the details. The cuts aren't part of a layoff, according to the sources, with Yahoo management reportedly telling workers that they're being done as part of a restructuring plan.

Mike Kern's group is said to be experiencing some cuts, though his isn't the only one. According to one source in particular, those being fired have had their year-end 2014 bonuses withheld, but that they're being given two months of severance pay. Yahoo has not made any comments on the rumor at this point, nor has it announced any recent restructuring plans.

This comes at a time when Yahoo has struggled to regain its former glory. In the recent past, the company has continually trimmed its services, shutting down those that had been absorbed into other sections or that were not popular enough/profitable enough to justify keeping around.

SOURCE: Business Insider