Yahoo cuts 600 jobs
Yahoo reportedly laid off nearly 5% of its workforce on December 14.
“Today's personnel changes are part of our ongoing strategy to best position Yahoo for revenue growth and margin expansion, and to support our strategy to deliver differentiated products to the marketplace,” the company said in a statement.
The cuts affected 600 employees, most working in the US products unit that Yahoo recently put under the supervision of Blake Irving, chief product officer, according to multiple reports. Irving joined Yahoo in mid-May. The company also recently hired former Time Inc. President Wayne Powers as SVP of advertising sales for North America.
Yahoo has grown revenue slowly due to weak ad sales; it posted only 2% revenue growth in the third quarter.
The layoffs were not completely unexpected. TechCrunch reported last month that the company would see harsh job cuts.