Yahoo lays off 1% of its global staff

Yahoo is amidst another layoff of its employees that too in a span of a mere 6 weeks, it is going to reduce 1% of its total global workforce, sources informed.

The exact number of employees to be laid off is not certain but at the end Q3 it is estimated to be at 14,100 staff members, added sources.

The web portal has announced in December that it would be shedding 4 % of its employees which would affect 600 staff members mostly from Yahoo’s product department. The news of Yahoo’s current lay off came right before it was about to announce its result for Q4. Experts believe that its revenues would see a decline of around 5.6 % year over year.

On the day of the announcement which was on Tuesday Yahoo saw a 1% decline in its shares.

According to sources, the latest cuts are part of the company's strategy to position itself for net revenue growth and margin expansion, and Yahoo also plans to keep hiring for its key strategic areas.