It has been rumored for the last few weeks that Yahoo was planning to slash significant number of jobs soon. Unfortunately, it looks like those reports are turning out to be true.
Although neither an official announcement nor an exact number of layoffs has been revealed, AllThingsD reports that Yahoo will commence with the layoffs of possibly thousands of employees as soon as next week.
As of the end of the third quarter of 2011, Yahoo had approximately 14,000 employees.
The report added that most of the job cuts will happen withing Yahoo's product, research and marketing units. As Yahoo continues to move away from focusing on search to repositioning itself as a digital media company, that could have something to do with this.
The most painful part is that these layoffs are not expected to come down in one fell swoop, but most likely rather in phases as Yahoo begins restructuring itself. One can only imagine the tension at Yahoo offices now and over the next few weeks.
It has been well known for a long time now that Yahoo has been suffering. Nevertheless, Yahoo follows a recent string of major rounds of layoffs in the technology world at IBM, Hewlett-Packard, T-Mobile USA, and AOL.
Job cuts are also a looming possibility at Research in Motion -- although RIM is supposedly "cleaning house" closer to the top of the food chain.