Submission + - Yahoo To Fire Another 15% as Mayer Attempts to Hang On (theguardian.com)
xxxJonBoyxxx writes: Yahoo chief executive Marissa Mayer has announced plans to cut the company’s workforce by 15% and close five foreign offices by the end of 2016 after announcing a $4.4bn loss. Yahoo shares have fallen 33% over the past year, including a 17% drop in the last three months. Its shares fell again in after-hours trading after Mayer announced her plan.
Yahoo expects its workforce to be down to 9,000 and have fewer than 1,000 contractors by end of 2016. About a third of Yahoo’s workforce has left either voluntarily or involuntarily over the last year. And the cuts may just be starting: one activist investor (SpringOwl) says the total number of employees should be closer to 3,000 for a company with its revenue. (http://www.jsonline.com/business/yahoo-to-cut-1700-workers-as-ceo-tries-to-save-her-own-job-b99663419z1-367443511.html)
Yahoo expects its workforce to be down to 9,000 and have fewer than 1,000 contractors by end of 2016. About a third of Yahoo’s workforce has left either voluntarily or involuntarily over the last year. And the cuts may just be starting: one activist investor (SpringOwl) says the total number of employees should be closer to 3,000 for a company with its revenue. (http://www.jsonline.com/business/yahoo-to-cut-1700-workers-as-ceo-tries-to-save-her-own-job-b99663419z1-367443511.html)
