Yahoo is planning to cut its workforce by at least 10% as part of a cost cutting drive, according to a news report. Business Insider reports that the layoffs would result in more than 1,000 people leaving the tech giant, and will affect Yahoo’s media business, European operations, and platforms-technology group. Yahoo spokeswoman Rebecca Neufeld […]
Yahoo is planning to cut its workforce by at least 10% as part of a cost cutting drive, according to a news report.
Business Insider reports that the layoffs would result in more than 1,000 people leaving the tech giant, and will affect Yahoo’s media business, European operations, and platforms-technology group.
Yahoo spokeswoman Rebecca Neufeld said the company will provide more details on its turnaround plan prior to its fourth quarter earnings call later this month.
Yahoo had appointed management consulting firm McKinsey & Co, in November, to help with the reorganisation of its core businesses.
The company also had plans to make big changes to its media unit, restructuring and consolidating it, including making cuts and shuttering some efforts.
In December, Yahoo shelved plans to spin off the Alibaba stake and said it would create a separate company that would house Yahoo’s Internet business and its stake in Yahoo Japan.
