Society
13:22 03/02/2016
Yahoo confirms layoffs of 15 percent of workforce
Yahoo has confirmed that it is planning to cut 15 percent of its staff as it pursues "strategic alternatives" including the spinoff of its core business, according to the Hollywood Reporter.
The cuts are part of CEO Marissa Mayer's effort to reduce costs at the beleaguered search giant as it faces mounting pressure from investors.
Yahoo on Tuesday issued a lengthy plan to simplify the company and narrow its focus. Among the cost-cutting efforts is the closure of offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan.
Yahoo will also consolidate its Digital Magazine business by shutting down some of its verticals. The company plans to close "legacy" products such as Games and its smart TV effort.
Reports of layoffs have circled for several weeks as Mayer is said to be evaluating which aspects of the business to invest in, maintain and do away with entirely. She said in October that she was preparing to narrow the focus of the business.
In total, Yahoo plans to have around 9,000 employees and 1,000 contractors by the end of the first quarter, a 42 percent drop in its workforce since 2012.
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Newsfeed
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Conan O’Brien set to host 97th Oscars for first time
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16:45
3 Armenians among leaders of European Individual Chess Championship
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16:30
Black liquid poured on Georgia's election chief
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World Cadet Chess Championship: 9 Armenian players win their first games
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15:04
Russia says Armenia's statements indicate its reluctance to take part in CSTO events
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Source Panorama.am
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14:00
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13:30
Charles Aznavour's 100th anniversary marked in Greece
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13:00
Armenian church honors Apostles Andrew and Philip
The Armenian Apostolic Church on Saturday commemorates the Holy Apostles Andrew and Philip.
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12:30
Zelensky says Scholz-Putin phone call opens 'Pandora's box'
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12:16
Three injured in car crash in Armenia's Gegharkunik
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11:45
Trump critics brace for dark time of retribution
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11:33
Former Gyumri mayor's son detained
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11:00
Armenian, French foreign ministers discuss regional issues
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17:01
Stephen King leaves X over 'toxic' environment
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16:45
Windy conditions expected in parts of Armenia on Saturday
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Source Panorama.am
16:35
Stop Greenwashing Genocide!: Protest held outside UN office in Yerevan
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Source Panorama.am
16:15
COP29 host Azerbaijan accused of crackdown on environmental activists
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15:59
Yerevan court orders compulsory attendance of Kocharyan, two others at next hearing
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Source Panorama.am
15:06
Armenian government approves ֏248 million to co-finance community programs
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Source Panorama.am
14:36
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13:57
No one charged over misappropriation at ANIF
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Source Panorama.am
12:57
Meeting with Armenia impossible until December, Azeri FM says
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12:36
Indian Film Festival kicks off in Yerevan
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Source Panorama.am
12:02
Nations League: Armenia lose to Faroe Islands
Armenia suffered a home defeat to the Faroe Islands in the 5th round of the UEFA Nations League on Thursday.
Viljormur Davidsen's...
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11:33
Georgia reiterates readiness to mediate between Armenia, Azerbaijan
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11:15
At least 30 killed in Israeli strikes on Lebanon
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11:06
Armenian, Iranian FMs discuss bilateral agenda
Armenian Foreign Minister Ararat Mirzoyan on Thursday had a telephone conversation with his Iranian counterpart Seyed Abbas...
Source Panorama.am
17:18
Pashinyan again criticizes Armenia's Declaration of Independence
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Source Panorama.am
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