Sunnyvale’s Yahoo Inc. is preparing for a wave of layoffs that could affect thousands of employees of the struggling internet giant. The first set of layoffs could happen by the end of this month.

According to Reuter’s, “The moves could be announced as soon as the end of the month and would represent the first major changes under CEO Scott Thompson, the former PayPal president who took the top job at Yahoo in January.”

Over the last few years, Yahoo has been trying to compete with companies like Google, who has surpassed it with both its search engine and email tool Gmail. This restructuring is one several that have plagued the Bay Area-based tech corp.

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• Tag: economy, layoffs, Sunnyvale, tech, Yahoo