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Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

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Indian origin scientist to quit as ‘struggling’ Yahoo begins major restructuring

Tuesday - Mar 06, 2012, 03:03pm (GMT+5.5)
[+] Text [-]

San Francisco -  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.





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