CEO Marissa Mayer announces a ‘strategic plan’ that includes cutting 1700 jobs and is expected to lead to the sale of parts of its businessYahoo chief executive Marissa Mayer has announced plans to lop the company’s workforce by 15% and close five foreign offices by the discontinuance 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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Source: theguardian.com