) has been struggling for some time now - that much is without
question. The former internet giant has seen companies like
), Amazon (NASDAQ:
) and Facebook think faster and attract consumers at an
incredible rate, leaving YHOO to feed on crumbs.
Days after unveiling some pretty brutal job cuts (2,000
people, to be exact), YHOO CEO Scott Thompson has been addressing
employees to discuss how the company will be reshaped going
Meanwhile, it is not all bad news for those that lost their
jobs with Yahoo, as the Detroit-based Quicken Loans family of
companies is launching an effort to lure some of those laid-off
workers to the Motor City.
It has launched a website, www.ValleytoDetroit.com, for those
2,000 former Yahoo employees to submit resumes.
"We know that there is a great deal of talent inside of Yahoo
- especially in marketing and Web development - and we're
encouraging those who have been impacted by job cuts to consider
Detroit as the next stop in their career," Detroit Venture
Partners CEO and managing partner Josh Linkner said in a
It is a bold move by Quicken Loans, who has said that it will
begin the preliminary round of interviews immediately, and fly
out final candidates to Detroit. Quicken Loans chairman Dan
Gilbert has already convinced Twitter to open an office in
Downtown Detroit, and he is seeking to create a small technology
corridor on Woodward Avenue in the city.
Back at Yahoo, Thompson said that the new Yahoo will be
organized into three core divisions, effective May 1. These will
include a consumer arm, focusing on media content; a regions
division, dealing with advertisers; and a technology division
handling the company's infrastructure and platforms.
Pivotal Research said on Tuesday that, while the consequences
of Yahoo's recent restructuring announcement won't be fleshed out
for some time - additional details will certainly be brought to
light on the company's upcoming earnings call - it certainly
contributes to an improved financial profile for the near-term.
Unfortunately for the company, it appears that erosion of the
display business continues, and we think it likely that the
organizational tumult will cause the company to grow at a slower
pace in the near term than it might otherwise have done.
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