A digest of the top business and technology news stories from the past week.
Yahoo! to cut 2,000 workers – 14pc of workforce – in restructure
Internet portal Yahoo! said it will be making up to 2,000 redundancies – about 14pc of its workforce – as part of a restructuring of the company. The plan is expected to save Yahoo! up to US$375m.
In a statement, CEO Scott Thompson said: "Today’s actions are an important next step toward a bold, new Yahoo! – smaller, nimbler, more profitable and better equipped to innovate as fast as our customers and our industry require. We are intensifying our efforts on our core businesses and redeploying resources to our most urgent priorities.
“Our goal is to get back to our core purpose – putting our users and advertisers first – and we are moving aggressively to achieve that goal," said Thompson.
Telefónica O2 to seek 120 voluntary redundancies
Mobile operator Telefónica Ireland which operates the O2 brand, has confirmed it is seeking 120 voluntary redundancies from its 1,100-strong Irish workforce.
The decision follows a review of the business which identified the need to cut its headcount.
The company said it will now engage in consultation with its workers.
“Telefónica Ireland has taken this difficult decision in order to directly deal with the ongoing challenging market conditions, including a fiercely competitive telecoms sector," the company said in a statement.
“In responding to these challenges, the company is making changes to processes and operations to drive greater efficiency while maintaining the service it delivers to customers.”
Dublin electronics store Peats closes down
Dublin electronics store Peats, which was established in 1934, has gone into liquidation resulting in all 11 of its stores closing down immediately and 75 job losses.
Ben Peat, the chairman of Peats, told staff at its head office on Parnell Street in Dublin that the company couldn’t keep trading due to financial constraints.
He said the impacts of recession, high rent costs and online competitors affected high-street retailing, meaning the stores could not continue trading. He said 60pc of its annual sales came from November to January and that it could not continue through the summer months.
Peat said the company’s staff will be paid their entitlements and redundancy in full. All stores have closed and customers can call 01 902 3718 or email email@example.com with any enquiries.
TripAdvisor files antitrust complaint against Google in EU
Online travel review site TripAdvisor has filed an antitrust complaint with the European Commission against Google, citing “anti-competitive and unfair practices by Google that harm the marketplace and consumer welfare”.
Google Places is a competitor to TripAdvisor, which filed the complaint with the European Commission last week.
"We hope that the commission takes prompt corrective action to ensure a healthy and competitive online environment that will foster innovation across the Internet," TripAdvisor said in its statement.
TripAdvisor has not, however, given any more specifics about how it believes Google is carrying out unfair practices.
Pinterest co-founder Paul Sciarra leaves the company
Pinterest co-founder Paul Sciarra has confirmed he is leaving the company after reports began to emerge yesterday about his departure. Fellow Pinterest co-founder Ben Silbermann now becomes CEO of the company.
Sciarra has another job lined up, though. He has been hired as “Entrepreneur-in-Residence” at venture-capital firm Andreessen Horowitz, Sciarra wrote in a blog post.
Sciarra also mentioned he will still continue to be there for Pinterest, the service that allows members to "pin" images, videos and other content to their online pinboards. "Now, as an adviser, an owner, and – as always – a dedicated pinner."
Andreessen Horowitz is an investor in Pinterest.
Stay informed – get daily updates on the latest happenings in technology directly to your inbox.
Buy your tickets now!