Yahoo cutting workforce by 15% after announcing $4.4bn loss
by Jana Kasperkevic in New York and Julia Carrie Wong from Technology | The Guardian on (#12PRE)
CEO Marissa Mayer announces a 'strategic plan' that includes cutting 1,700 jobs and is expected to lead to the sale of parts of its business
Yahoo chief executive Marissa Mayer has announced plans to cut the company's workforce by 15% and close five foreign offices by the end of 2016.
The struggling tech company reported a $4.4bn loss for the last three months of 2015 as it wrote down the value of assets including Tumblr, the blogging site it bought for $1bn in 2013.
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