Yahoo reportedly letting go of 10 per cent of its workforce

Yahoo is reportedly preparing to slash 10 per cent of it s workforce. A report from Business Insider states that up to 1,000 jobs affecting Yahoo’s media business, European operations, and platforms-technology group would be cut.

Yahoo had appointed management consulting firm McKinsey & Co, in November, to help with the reorganization of its core businesses. Yahoo lost one-third of their value last year as it become clear that a spinoff of its lucrative Alibaba stake, this is despite various acquisitions and plans to reinvent itself as a media company and mobile app provider.

Source: USA Today