It’s been a doom-and-gloom week for Yahoo.

First the media giant shuttered its premium video hub, Yahoo Screen, and then we learned that it’s facing a class action lawsuit for sending unsolicited text messages to users.

Now (as of late Wednesday), reports are flying that Yahoo is preparing to lay off 10 percent of its workforce — or about 1,000 employees.

Yahoo’s media business, its European operations, and its platforms-technology groups are expected to be hit hardest, according to Business Insider.

The layoffs, which BI reports could come this month, will be a morale blow to a company that already slashed its workforce by 14 percent during 2015.

One of Yahoo’s activist shareholders, Starboard Value, didn’t mince words Wednesday when it called for an overhaul of the company’s management and board, saying Yahoo’s decision to spin off its core Internet business was “not acceptable,” and that the “existing leadership continues to destroy value.”

Brace yourselves.

VentureBeat

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform
  • networking features, and more
Become a member