Thursday, 4 February 2016

Yahoo Plans to Fire At Least 1600 Employees

Yahoo is laying off at least 1,600 employees in a shake-up likely to determine whether chief executive Marissa Mayer can save her own job.

The long-anticipated purge will jettison about 15% of Yahoo’s workforce along with an assortment of services Ms Mayer decided are not worth the time and money that the Internet company has been putting into them.

The cost-cutting is designed to save about 400 million dollars annually to help offset a steep decline in net revenue this year. Ms Mayer also hopes to sell some of Yahoo’s patents, real estate and other holdings for up to 3 billion dollars.

Products to be dumped include Yahoo Games, Yahoo TV and some of the digital magazines that Ms Mayer started as chief executive.

No comments:

Post a Comment