Yahoo to cut 15 percent jobs, close several units: WSJ

Yahoo Inc (YHOO.O) Chief Executive Marissa Mayer is set to reveal cost-cutting plans that include slashing 15 percent of its workforce, or roughly 1,600 jobs, and closing several business units, the Wall Street Journal reported on Monday.

Sourced through Scoop.it from: www.reuters.com

Yahoo CEO Marissa Mayer is set to reveal cost-cutting plans that include slashing 15% of its workforce, or roughly 1,600 jobs, and closing several business units, the Wall Street Journal reported on Monday.  The plans are expected to be announced after Yahoo’s fourth-quarter results on Tuesday, citing people familiar with the matter. It did not specify which business units might be closed.  

Yahoo had about 11,000 employees as of June 30, according to its website, down from a Dec. 31, 2014 total of about 12,500 full-time employees and what it called fixed term contractors.  Last week Yahoo confirmed plans to close its offices in Argentina and Mexico. The company declined to specify how many jobs were affected, but said the offices were small and “sales-focused.” Yahoo has struggled to expand its Internet business, which includes selling search and display ads on its news and sports sites and email service, in the face of competition from Alphabet’s Google unit and Facebook. 

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