AfterDawn: Tech news

Yahoo to lay off 15 percent of employees

Written by Andre Yoskowitz (Google+) @ 02 Feb 2016 21:24

Yahoo to lay off 15 percent of employees Marissa Mayer's company is in deep trouble.
Yahoo reported their quarterly earnings this week, making $63 million in net profit on $1.27 billion in revenue. Four years ago, when Mayer was hired to turn around the company, the company had higher revenue showing that despite all of her efforts to make Yahoo 'cool' again, there has been very little to show for it.

After the report, the company announced it will be laying off 15 percent of its employees in a cost-cutting measure that will save it $400 million over time, likely a move to help the company be sold. At the same time, Yahoo is reportedly having issues selling their core assets, since investors value the company at little to nothing outside of the company's Alibaba stake and the cash it has on-hand.

Furthermore, Mayer killed off Yahoo Smart TV and Yahoo Games, with the company focusing now on Search, Mail and Tumblr, and four verticals - News, Sports, Finance, and Lifestyle.

Source:
Yahoo

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