Yahoo Inc declared on yesterday it will lay off 107 employees in the first of what is expected to be more than 1,500 job cuts. The layoffs take effect from April 11 and affected employees get 60-day advance notice of the move, Yahoo told in a notice filed with the California Employment Development Department.
The layoffs were spread across a range of departments and job titles. Yahoo shares ended-up 1 percent at USD27.10 on yesterday and are down around 18.5 per-cent so far current year. Yahoo Chief Executive Officer Marissa Mayer told at the time of the company’s 4rth Q(quarter) earnings call current month it will cut roughly 15 per-cent of its workforce as part of a strategy to revamp its core Internet business.