Internet giant Yahoo is expected to layoff 14% of its workforce today. That represents about 2,000 positions. The announcement is expected today when the markets open. This is just an initial round of cuts that is expected to continue for the next several months.
The main focus of workforce reductions is Yahoo's search business. Also sharing the lion's share of layoffs are Yahoo's business, APT, and Right Media which handle ad tech business for Yahoo.
To a lesser extent, Yahoo's marketing and research and local businesses divisions are expected to suffer casualties. Yahoo's media units are expected to fare better in this round of layoffs. There has been no word on how Yahoo's general and administrative staff will be affected.
Scott Thompson, Yahoo's new CEO, has contracted with Boston Consulting Group to help navigate the company to brighter shores in the months to come.
Despite this sobering news, Yahoo may also see new hiring in the near future. Those positions would be created in two parts of a global media division: consumer products businesses and global and regional sales. A small division dealing with future innovation would employ approximately 50 employees.
It still remains unclear how many positions from Yahoo's Summer Street, Boston headquarters will be eliminated.
Read More: Right Media, APT