Yahoo estimates US$64-78m restructuring charges, mostly in Q1

[SAN FRANCISCO] Yahoo Inc estimated that a plan to cut jobs and other restructuring moves would result in pretax charges of US$64 million to US$78 million, mostly in the first quarter of 2016.

Of the total, US$40 million to US$48 million would be for severance pay and related cash expenditures, the company said in a regulatory filing on Friday.

Yahoo said on Feb 2 it would reduce its workforce by 15 per cent by the end of 2016 and close offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan.

The company's shares were up nearly 2 per cent at US$31.98 in morning trading on Monday.

REUTERS