Yahoo Lays Off 15 Per Cent of Workforce in First Round of Cuts

  • Thursday, February 11th, 2016
  • Author: Tim Maytom
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yahoo marissa mayerYahoo has announced that it will be laying off 107 employees in the first wave of staffing cuts that are expected to eliminate more than 1,500 roles at the company, approximately 15 per cent of the current workforce.

The layoffs will take effect 11 April, with affected employees receiving 60-day advance notice of the job losses. The redundancies are spread across a range of departments and job titles, according to a notice the company filed withe the California Employment Development Department.

Yahoos shares rose one per cent at close of trading yesterday following the news, but are down around 18.5 per cent so far this year overall. During the companys fourth quarter earnings call, CEO Marissa Mayer said that job losses would happen as part of a strategy to revamp Yahoos core internet business.

Yahoo had around 11,000 employees as of 30 June 2015, down from 12,500 at the start of last year. Another 15 per cent are expected to be let go within the next six months.