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Yahoo Inc Chief Executive Scott Thompson outlined how the Internet pioneer will revive itself by putting in place a new structure to sharpen its focus on users, advertisers and overlooked areas such as commerce.

Yahoo Inc CEO Scott Thompson unveiled details of how the struggling Internet company will be reorganized, addressing employees just days after unveiling the deepest round of job cuts in years.

Yahoo Inc's head of products is leaving the company, ahead of a major reorganization aimed to return the struggling Web company to growth.

Yahoo Inc CEO Scott Thompson will outline his long-term strategy and vision for the struggling Internet company at an all-hands meeting for staff next Tuesday, a source at the company told Reuters, days after Thompson announced the deepest round of job cuts in years.

Yahoo Inc CEO Scott Thompson will outline his long-term strategy and vision for the struggling Internet firm at an all-hands meeting for staff next Tuesday, a source at the company told Reuters, days after he announced the deepest round of job cuts in years.

Yahoo Inc will lay off 2,000 people, or 14 percent of its workforce, in its deepest round of job cuts in years as new Chief Executive Scott Thompson tries to jumpstart growth with a leaner, more agile company while saving hundreds of millions of dollars.

As expected, Yahoo began laying off more than 2,000 employees on Wednesday morning -- roughly 14 percent of the company's total workforce -- in its effort to slim down and pivot its focus in a new direction.

Yahoo Inc., the No. 2 search engine, said it will fire 2,000 employees starting Wednesday and incur a charge as high as $145 million in the second quarter.

Facebook, the No. 1 social network site, sued Yahoo (Nasdaq: YHOO) for alleged patent infringement only two weeks after being sued for the same charges.

Facebook fired back on Tuesday in its legal battle with Yahoo by accusing the Web pioneer of infringing 10 of Facebook's patents, according to a court filing.

Hedge fund manager Daniel Loeb has intensified his firm Third Point's proxy battle with Yahoo Inc, launching a website calling for a management shakeup at the online media company.

Yahoo Inc will begin layoffs of thousands of employees next week and will announce a plan to restructure the company the week after that, according to a media report.

Facebook (NYSE: FB), the No. 1 social network website, will stop insider trades of its shares Friday because its initial public offering roadshow will begin next week.

Shares of AOL (NYSE: AOL), the seventh most-visited website, have gained nearly 7 percent this week after the company said a patent sale is an option to increase shareholder value.

Daniel Loeb, chief executive of hedge fund Third Point, said he would continue to push to revamp Yahoo Inc's board of directors following Yahoo's decision to reject him as a board member.

Facebook (NYSE: FB) pledged to “vigorously defend” itself against claims it infringed upon 10 critical patents held by Yahoo (Nasdaq: YHOO), the No. 2 search engine.

Daniel Loeb, chief executive of hedge fund Third Point, said he would continue to push to revamp Yahoo Inc's board of directors following Yahoo's decision to reject him as a board member.

It's not easy being an Internet business giant that everybody seems to want a piece of. Facebook found this out the hard way, as the world's No.1 social networking company warned away would-be investors, pending the outcome of a court case filed against it by Internet pioneer Yahoo this March.

Facebook (NYSE: FB), the No. 1 social network that wants to complete its initial public offering, is spending more on lawyers these days.

Shares of Yahoo were mixed Monday as it appeared a proxy fight looms for its board of directors.

Yahoo Inc has appointed three new independent directors as it prepares for a proxy fight with activist hedge fund investor Daniel Loeb.

Yahoo Inc. announced Sunday that it has appointed three new independent directors following a failure to arrive at a settlement with Third Point LLC, its largest shareholder that owns about 5.15 percent of shares.

During a major regional basketball recruiting showcase, where many young prospects play in front of college assistant coaches and other scouts, it's typical that competition is played at an extremely high level. That's why many in attendance of a recent showcase in North Carolina were stunned when a referee decided to call an entire game from a folding chair set up in the middle of the court.

Facebook has acquired hundreds of patents from International Business Machines Corp as the social networking company attempts to bolster its intellectual property portfolio in the wake of a lawsuit filed by Yahoo.

Less than three months into the job as Yahoo Inc's chief executive, Scott Thompson faces a proxy showdown with hedge fund Third Point that will determine whether he or a slate of dissident directors nominated by the hedge fund's founder, Dan Loeb, gets to chart the company's course.

Activist hedge fund Third Point on Wednesday filed a proxy statement with regulators seeking to install its own slate of directors on Yahoo Inc's board after criticizing the Internet company's recent appointees to the board.

Facebook will pay a fee of just 1.1 percent to underwriters of its initial public offering, a source with knowledge of the company's plans said on Monday.

The latest fad in food challenges, the cinnamon challenge, has reached everyone from NBS players to the governor of Illinois.

Jersey Shore starlet Nicole Snooki Polizzi, who recently showed her mini bump and confirmed that she is 15 weeks pregnant, is now ranked as the most overpaid celebrity in Hollywood.