Yahoo just pulled out of China and axed at least 200 employees
Yahoo has now cut between 700 and 900 employees since October.
CEO Marissa Mayer has been under pressure to cut costs at Yahoo, and these firings have been part of that gradual cost-cutting.
"She's been laying people off every Wednesday," a source told us after a recent round of layoffs.
The cuts include Yahoo's Beijing research center, which was the company's only remaining physical presence in China, and represent about 2% of Yahoo's global staff.
The company stopped offering services like email to Chinese users back in 2013, referring people to open accounts through the massive Chinese company Alibaba. Yahoo has had a stake in Alibaba since 2005, but announced earlier this year that it was going to spin-off its remaining 15% stake into an independent company by the end of the year.
- I spent 2 weeks in India. A highlight was visiting a small mountain town so beautiful it didn't seem real.
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- Stock markets stage strong rebound after 4 days of slump; Sensex rallies 599 pts
- Sustainable Transportation Alternatives
- 10 Foods you should avoid eating when in stress
- 8 Lesser-known places to visit near Nainital
- World Liver Day 2024: 10 Foods that are necessary for a healthy liver