Oh, Yahoo. The long-struggling tech giant has been having wave after wave of layoffs in the last few years, with 14% of its workforce dumped over the course of 2015, alone. According to a new report, the bloodletting is going to get even worse over the next few weeks, with around a thousand staffers expected to be cut from the Silicon Valley company in the first quarter of 2016.
Business Insider cites "sources familiar with the situation" as saying that the troubled company will experience "major layoffs" across its over-10,000-person company, to the tune of "at least 10% of its workforce."
The cuts, which are expected to hit all the sprawling company's business units, are expected to impact their "media business, European operations, and platforms-technology group" most strongly.
Of course, 1,000 layoffs is a far cry from the 9,000 proposed by activist shareholders just last month, when New York hedge fund SpringOwl sent a 99-slide presentation to Yahoo's board demanding that the company cut $2 billion a year by giving 90 percent of their employees the boot, and staffing with a combination of 3,000 full-time employees and contractors.
Though Yahoo has failed to comment on the reported layoffs, they have said that they will announce "additional plans for a more focused Yahoo on or before our Q4 earnings call," which is expected in the next few weeks. That jibes with the timeline presented by Business Insider's sources, one of which said that "A team is working on [the layoff plan] and they want to do it this quarter."