Yahoo to fire 1,700 employees

Yahoo will lay off around 1,700 employees and “shed some of its excess baggage”.

By - February 3, 2016 Share on LinkedIn
Yahoo new

Yahoo will lay off around 1,700 employees and “shed some of its excess baggage” in move meant to get rid of services the company no longer wants to focus on.

According to a report by AP, Yahoo CEO Marissa Mayer plans to sell the unwanted services for about $1 billion – but has not made public which services these will be.

“Mayer also said Yahoo’s board will mull strategic alternatives that could result in the sale of all the company’s Internet operations,” stated the report.

Mayer said her plan to run a “smaller, more focused company” will improve Yahoo’s competitiveness.

“This cost-cutting overhaul might be Mayer’s last chance to persuade restless shareholders that she has figured out how to revive the Internet company’s growth after three-and-half years of futility,” stated AP.

Yahoo’s revenue has decreased through most of Mayer’s tenure, stated the report, while she has spent over $3 billion on purchasing more than 40 companies.

More on Yahoo

Next generation Yahoo Messenger unveiled

Yahoo overhauls Flickr photo-sharing site

Share your thoughts

Join the conversation

Connect with Us

androidappletwitterfacebookgoogleplusfeednewsletter

Poll

Who do you trust the most with your private information?

View Results

Loading ... Loading ...

More News

The top-selling TV brand in South Africa

Hisense TV

If you think Samsung or LG sells the most televisions in South Africa, you would be wrong.

The 25-core CPU that can be scaled to 200,000

Piton 25-core Princeton CPU

The Piton is an open-source 25-core processor designed to be rapidly scalable up to 200,000 cores.

Intel unveils new SSDs

Intel SSD

Intel has introduced six new 3D NAND SSDs aimed at the consumer and business markets.

Great tech specials from Makro, Dion Wired, and Game

Tech Sale Deals

This week, Makro’s Big Birthday Bash specials continue while Dion Wired and Game are offering big discounts on tech products.

Free MyBroadband Newsletter
×