By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Yahoo Set To Sack 1000 Workers.
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Yahoo Set To Sack 1000 Workers.

Damilola A.
By Damilola A.
Published: January 7, 2016
Share
2 Min Read
SHARE
yahoo_job_cut_reuters
Yahoo Inc is working on a plan to cut its workforce by at least 10 percent and it could start the process as early as this month, Business Insider reported, citing sources.The sack, which would result in more than 1,000 people leaving the tech giant, is set to affect Yahoo’s media business, European operations, and platforms-technology group, Business Insider saidon Wednesday

This move follows activist investor Starboard Value LP’s letter to Yahoo on Wednesday ramping up pressure on Yahoo, taking aim at Chief Executive Officer Marissa Mayer and her leadership team and raising the prospect that a proxy battle is approaching.

Starboard implied that Mayer and her officers needed to go, without naming her specifically.

The activist investor also threatened to shake up the board if Yahoo’s stock continued to suffer.

Yahoo spokeswoman Rebecca Neufeld said the company will provide more details on its turnaround plan prior to its fourth quarter earnings call later this month.

Starboard, which owns about 0.75 percent of Yahoo, has been pushing for changes at the Internet company since 2014, urging it to separate its Asian assets and auction off the core business.

The investor, together with other shareholders, has demanded Yahoo separate the Asian assets, including stakes in Chinese e-commerce company Alibaba Group Holding Ltd and Yahoo Japan Corp, and conduct an immediate public auction of the core business, including search and advertising businesses.

But Yahoo is resisting, instead pursuing a tax-free spinoff of the core business, which could take at least a year.

Yahoo had appointed management consulting firm McKinsey & Co, in November, to help with the reorganization of its core businesses.

The company also had plans to make big changes to its media unit, restructuring and consolidating it, including making cuts and shuttering some efforts.

In December, Yahoo shelved plans to spin off the Alibaba stake and said it would create a separate company that would house Yahoo’s Internet business and its stake in Yahoo Japan.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByDamilola A.
Entertainment News Reporter
Follow:
Damilola is a dedicated entertainment writer for Okay Nigeria (Okay.ng). He joined the platform with the aim of using his experience in the Entertainment industry to share wonderful articles in this field. Dammy is a die-hard fan of Wizkid.
Previous Article GRAPHIC PHOTOS of Shiites Allegedly Set On Fire By The Nigerian Army In Zaria Massacre.
Next Article PSquare Signs New Artiste To Square Records

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 6 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Small Plane Crash in Tennessee Leaves Several Injured, Investigation Underway
International
Portugal Edge Spain on Penalties to Clinch Second UEFA Nations League Title
Sport
Tinubu Mourns Seasoned Administrator, Fidelis Kaigama
News
Minister Hanatu Musawa Highlights President Tinubu’s Vision for Nigeria’s Cultural Renaissance at Ojude Oba Festival
News
Tinubu Declares Reconciliation with Sanwo-Olu, Forgives Past Differences
News Top stories
- Advertisement -
Ad imageAd image

You May Also Like

SportTop stories

JUST IN: Osimhen Turns Down €75m Al Hilal Move, Keeps European Options Open

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 8, 2025
Lucky Orimisan Aiyedatiwa
News

Ondo PDP Accuses Governor Aiyedatiwa of Abandoning Late Akeredolu’s Projects Amid Political Tensions

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 8, 2025
News

Governor Dapo Abiodun Honors Ijebu Heritage at Ojude Oba Festival

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 8, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?