Yahoo employees face new round of job cuts
Yahoo employees will see more job cuts on Wednesday, a company spokesperson confirmed to The Chronicle.
The layoffs are part of Yahooâs plan to decrease its global workforce by 15 percent or nearly 1,600 employees by the end of the year. The Sunnyvale-based tech giant is struggling to increase its share of worldwide advertising revenues and has been under significant pressure from activist shareholders to sell its core business.
Yahoo did not immediately answer questions about which positions or departments will be most affected. People familiar with Yahoo’s business told The Chronicle they expected cuts will be deepest today in Yahoo’s New York office.
“As a result of these changes some jobs have been eliminated and those employees will be notified today,” Yahoo said, adding it will “treat these employees with the respect and fairness they deserve.”
Earlier this month, Yahoo’s CEO Marissa Mayer said she planned to refocus the company, with fewer employees and fewer products. Yahoo would focus on four content categories: Finance, Sports, Lifestyle and News. That would result in some of its digital magazines being consolidated o reliminated.
It is unclear whether the job losses will be classified as layoffs or stealthy firings. Layoffs of 50 or more employees in California require large employers to file notice with the state. Last week, Yahoo informed state officials there would be 107 layoffs at its Sunnyvale headquarters in April. OnWednesday morning, neither the New York nor the California Departments of Labor had received notice of job reductions at Yahoo.