New Delhi, Feb.2 (ANI): American multinational technology company Yahoo Inc has announced that it will be slashing 15 percent of the company’s workforce, or roughly 1,600 jobs, and closing several business units as part of its cost cutting plans.
The company’s chief executive Marissa Mayer confirmed the cost cutting plan which is expected to be announced after the company’s fourth-quarter results, reports the Wall Street Journal and the Reuters.
Meanwhile, a Yahoo spokeswoman did not wish to comment on it before releasing earnings.
Headquartered in California, Yahoo is globally known for its Web portal, search engine Yahoo! Search, and related services, including Yahoo! Directory, Yahoo! Mail, Yahoo! News, Yahoo! Finance, Yahoo! Groups, Yahoo! Answers, advertising, online mapping, video sharing, fantasy sports and its social media website.
It is one of the most popular sites in the United States. According to news sources, roughly 700 million people visit Yahoo websites every month. (ANI)