According to sources that are familiar regarding the situation, the cut targeted mostly of the Yahoo’s product group, the group that are responsible in building Web properties such as the sports and finance pages, its popular news and even on its widely used email service.
Based on accounted record, the particular division in the company had more than 7,000 employees, and at the end of October, Yahoo already had 14,200 employees.
In the previous, Mr. Irving already asked his unit heads to be prepared for an operational plans, which is factored to force cuts more than 20 percent of its work force. A person who is very much family with the matter said that his recent interview with Mr. Irving it said that he wants the product group to work even more closely with regional teams so they are capable of sharing same responsibility and goals, to achieve operational and the company’s financial targets.
The layoffs to be made by Yahoo are contrast to other Internet companies, such as Google and Facebook. Google on the other hand announce that its 23,000 employees are about to receive a 10 percent salary increase in January. For the latest updates PRESS CTR + D or visit Stock Market news Today
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