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Yahoo plans to cut staff as investor seeks changes

Activist shareholder Starboard says current leadership is destroying value

Published Thu, Jan 7, 2016 · 09:50 PM
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New York

YAHOO Inc is working on a plan to cut its workforce by at least 10 per cent and it could start the process as early as this month, Business Insider reported, citing sources.

"We are not confirming this rumour or commenting further," Sarah Meron, a spokeswoman for Yahoo, told Reuters on Thursday. The layoffs, which would result in more than 1,000 people leaving the tech giant, is set to affect Yahoo's media business, European operations, and platforms technology group, Business Insider said on Wednesday.

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