logo
Share SHARE
FONT-SIZE Plus   Neg

Yahoo! To Axe About 2K Jobs - Quick Facts

Yahoo! (YHOO) confirmed that it is taking important steps in reshaping the company for the future, and has identified key parts of the business, a select group of core businesses, the platforms that support those core businesses, and the data that drives deep personalization for users and ROI for advertisers, where it would intensify efforts and redeploy resources worldwide, entirely focusing on enhancing shareholder value.

Therefore, the company would start informing employees about these changes, and as part of that effort, around 2,000 people would be notified of job elimination or phased transition. The company, through its restructuring efforts, plans to grow by responding more quickly to customer needs and competing more effectively in areas where it can win.

Further, Yahoo! expects to realize nearly $375 million of annualized savings upon the close of all employee transitions. The company now sees to recognize the majority of an estimated $125 million - $145 million pretax cash charge relating to employee severance in its second quarter financial results.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Shares of Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) were gaining around 4 percent in the trading in South Korea after the company reported significant growth in its first-quarter profit with higher sales mainly in memory and display businesses. For the full year, the company expects overall earnings to grow from last year. Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) reported that its net profit for the first-quarter of 2017 rose 46% to 7.68 trillion South Korean won or $6.8 billion from 5.25 trillion won for the same period a year earlier. The company said that it would not adopt a holding company structure. Casino operator Las Vegas Sands Corp. (LVS), Wednesday reported an increase in profit for the first quarter, gambling business in Macao, China, the world's biggest gambling market, revives. Earnings for the quarter trumped Wall Street expectations, as did revenues. First-quarter profit rose to $480...
comments powered by Disqus
Follow RTT