As Yahoo’s search engine has been powered by Bing for about two years, several bad fortunes occurred in the search engine pioneer company. First, the board fired its CEO Carol Bartz just one day after the summer vacation ended during the Labor Day weekend of 2011. Then, about two weeks after the hiring of former PayPal president Scott Thompson as the new CEO, Yahoo’s founder Jerry Yang severed its ties with the company in mid-January 2012.
With Thompson as the top executive of the company, a latest report published by one of the very famous technology company insiders, Kara Swisher of All Things D, said that the Silicon Valley-based company will soon be downsizing. According to Swisher, Yahoo will cut thousands of jobs starting Q2-2012, mostly in product, research, and marketing divisions. With a total staff of 14,000 employees, about 2,500 people will be affected with the upcoming layoffs.