It seems, all is not going well for technology giant Yahoo. For some time, the company has been facing serious business challenges as most of its ventures failed to take off or met with embarrassing failures. Even Yahoo’s attempt to revive presence by roping in Yahoo CEO Marissa Mayer didn’t help. Now, worst is about to come as the company is ready to cut more than 10% of its workforce to see its business on track.
The company has already started working on its layoff plan. It could begin by later this month and would reduce at least 1000 employees from Yahoo’s total strength.
The cut will hit all the segments of the company especially Yahoo’s media business, European operations, and platforms-technology group, which includes the technology that supports the company’s services.
Yahoo didn’t appear to comment on the news of possible layoffs, but admitted that sound structural changes are being planned. According to the sources close to the company, there are plans in place to put Yahoo on track before Q4 results are out.
The company has been sweating hard since last three years to find a way out but failed to gain the momentum and sustain the worth it enjoyed for long.
Yahoo To Cut Its Workforce
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