Yahoo! Preparing for Layoffs

Yahoo's

new CEO, Scott Thompson, is looking to restructure the internet company, and that could mean layoffs that would cut thousands of employees from the payroll. The layoffs could be announced by the end of March, and they would be the first major moves by Thompson, formerly president at Paypal. He took the top job at Yahoo! in January. "As we have indicated, our leadership is engaged in a process that will generate significant strategic change at Yahoo, but final decisions have not yet been made at this point. Beyond that, we will not comment," Yahoo said in an emailed statement. Thompson would not have wanted his first major move to be something so negative, in an ideal world. However, he knows that something has to be done with the struggling web business to keep its head above water. According to the

, YHOO's revenue fell by more than a fifth last year, and it had 14,100 employees at the end of 2011.