Yahoo’s ‘aggressive strategic plan’ includes laying off 15 percent of its workforce and closing 5 offices
You might have heard: Yahoo may be considering a sale or spinoff of its web business (Bloomberg Business), and layoffs were expected as part of the reorganization (Business Insider)
But did you know: Yahoo announced Tuesday an “aggressive strategic plan” designed to simplify the company as its turnaround has failed to succeed. Yahoo will lay off 15 percent of its workforce, and close offices in Dubai, Mexico City, Buenos Aires, Madrid, and Milan. The company expects to save $400 million each year from the cuts. Going forward, Ken Yeung writes that Yahoo will focus on increasing user engagement, trimming down of its portfolio of products, and consolidating some of its digital magazines.