New Delhi, Feb 11 (ANI): In a notice filed with the California Employment Development Department, Yahoo Inc announced a lay off for more than 1,500 employees. The announcement, which will take effect from April 11, will see 107 employees being affected with a 60-day advance notice of the move.
The layoffs were spread across a range of departments and job titles. Yahoo shares closed up one percent at USD 27.10 on Wednesday and are down about 18.5 percent so far this year.
“This month we will cut roughly 15 percent of its workforce as part of a strategy to revamp its core Internet business,” said Yahoo CEO, Marissa Mayer during the company’s fourth quarter earnings call.
Yahoo had about 11,000 employees as of June 30, according to its website, down from a Dec. 31, 2014, total of about 12,500 full-time employees and what it called fixed-term contractors. (ANI)