Yahoo has just announced a new “aggressive strategic plan” that is meant to focus on its strengths based on the company’s fourth quarter earning reports. To that end, Yahoo will be laying off 15 percent of its workforce and closing five international offices.
This plan is scheduled to go into affect sometime during the first quarter of 2016. Yahoo will be closing offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan. By the end of 2016, Yahoo is expected to have approximately 9,000 employees and fewer than 1,000 contractors. The office closures and layoffs is estimated to reduce operating costs by USD 400 million in the coming year.
Apart from the layoffs and office closures, Yahoo has also stated that the company will be focused on the Mavens (mobile, video, native and social) sectors this year. For 2016, Yahoo will consist of three global platforms: Search, Mail and Tumblr, as well as four verticals: News, Sports, Finance and Lifestyle. For advertisers, Yahoo will be offering Gemini and BrightRoll. The former combines search and native ads for superior results, while the latter offers programmatic buying and selling tools for video, display and native advertising.
“Our strategic bets in Mavens have enabled us build an entirely new, forward-learning business of tremendous scale and growth in just three years. The plan announced today builds from that achievement and will dramaticcally brighten our future and improve our competitiveness, and attractiveness to users, advertisers, and partners,” says Marissa Mayer, CEO of Yahoo.
Source : Yahoo
