Yahoo set to sack thousands, NRI quits
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An Indian- origin scientist is reportedly set to quit Yahoo as the company has embarked on a major restructuring exercise that could result in significant layoffs.
Yahoo confirmed that a prominent scientist, Prabhakar Raghavan, who served as the company's head of Labs and head of strategy, would quit the company, The China Daily reports.
According to a technology news site, AllThingsD, Raghavan's departure comes ahead of possible deep cuts in his division.
The report said Raghavan would take up a job at Google.
The layoffs "are likely to number in the thousands," AllThingsD quoted sources, as saying.
It said "much of the change, which could be announced as soon as the end of this month, is being aimed at Yahoo's large products organization, as well as other arenas in which the company has lagged in."
The development comes in the wake of Yahoo struggling to regain its market share.
Yahoo had appointed Thompson as the new CEO after firing Carol Bartz and the company's co- founder Jerry Yang. It also accepted the resignation of four other board members.
Yahoo may lay-off thousands in restructuring drive: Report
New York: Close on the heels of a new CEO taking charge at Yahoo Inc, the internet giant is likely to cut thousands of jobs as part of a major restructuring exercise of its operations, a report has said.
Amid the likelihood of major job cuts in the company's research unit, the Indian-origin head of Yahoo Labs, Prabhakar Raghavan, may also leave the company, the Wall Street Journal reported citing unnamed sources.
"Yahoo Chief Executive Scott Thompson is preparing for a major restructuring of the internet giant's operations, likely including thousands of layoffs," the report said.
Yahoo had appointed Thompson, formerly head of eBay's PayPal unit, as the new CEO in January, months after the post got empty after Carol Bartz's departure in September 2011.
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