Yahoo to lay off 15% of its global workforce
Struggling search engine company Yahoo Inc. said it plans to cut about 15% of its workforce as part of a $400 million cost-cutting effort intended to “simplify” the troubled Net company.
The Sunnyvale, Calif.-based Yahoo plans to lay off about 1,500 employees and close five offices in Dubai, Mexico City, Buenos Aires, Madrid, and Milan — with the bulk of cuts by the end of March, Yahoo said Tuesday.
By the end of 2016, the online and mobile advertising company expects to have about 9,000 employees and fewer than 1,000 contractors, down from closer to 12,000 last year.
The cuts were announced as part of Yahoo’s newly announced goal to “simplify the company” amid criticisms that Mayer has failed to grow it through acquisitions and hiring. In addition to staff reductions, Yahoo will thin its online and mobile offerings to support those that generate the most revenue.
Also, as the company attempts to separate its Internet advertising and media business from its $25 billion stake in Chinese Net retailing giant Alibaba, Yahoo’s board will entertain strategic proposals, which could potentially include either a sale of part of the company or a potential merger.
business must be good eh?
“The Sunnyvale, Calif.-based Yahoo plans to lay off about 1,500 employees and close five offices in Dubai, Mexico City, Buenos Aires, Madrid, and Milan”
but no offices in the usa?