Yahoo Plans A 15% Reduction In Force, Five Offices To Close
February 3, 2016 at 4:15 AM (PT)
YAHOO CEO MARISSA MAYER is about to play the "downsizing" game. In a statement released early TODAY (2/3), MAYER said, “Today, we’re announcing a strategic plan that we strongly believe will enable us to accelerate YAHOO’s transformation. This is a strong plan calling for bold shifts in products and in resources.”
Ahead of the company’s quarterly earnings call, YAHOO plans to lay off 15% of the workforce (around 1,700 employees). YAHOO also plans to close offices in DUBAI, MEXICO CITY, BUENOS AIRES, MADRID and MILAN.
WIRED reports, "The company is also moving away from creating original TV shows, is consolidating its digital magazines, may sell valuable real-estate, and is shuttering legacy products like YAHOO Games. It will also reorganize the company in an effort to increase its number of users and the time they spend on YAHOO properties, especially on mobile, by focusing on search, e-mail, and TUMBLR, along with four topical verticals, including news, sports, finance, and lifestyle."