Yahoo is a US-based technology company founded in 1995. Originally, Yahoo started out as a web directory, helping users find information on the Internet. Over time, it expanded to include a wide range of services, including email, news, search, finance, entertainment, and more. Now, this technology giant needs to significantly reduce its staff. Read the article and learn about layoffs in yahoo.
Yahoo layoff announcement
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Last Thursday, the 9th, the company announced that it will cut 20% of its total workforce by the end of this year. the company of technology is one more to make this type of announcement in recent months.
According to a Yahoo spokesperson, the company's former ad technology division, Yahoo for Business, will be revamped and transformed into a new division called Yahoo Advertising. With that, Yahoo plans to cut nearly 50% of the division this year, "including nearly 1,000 employees this week."
According to the spokesperson:
“These decisions are never easy, but we believe these changes will simplify and strengthen our long-term advertising while allowing Yahoo to deliver more value to our customers and partners”
Jim Lanzone, CEO of Yahoo, these changes will be "extremely beneficial to Yahoo's profitability in general" and will allow the company to "attack" and invest more in other profitable parts of its business.
Yahoo's Trajectory
For much of the 1990s, Yahoo struggled to gain recognition. That's when Google dominated search and social media platforms like Facebook, Instagram and YouTube replaced it as top online destinations.
As a result, Yahoo faced increasingly intense competition and struggled to maintain its growth and market leadership. Apollo Global Management, a private equity firm, acquired Yahoo in 2021 for $5 billion from Verizon, which bought the company in 2017.
In summary, Yahoo was one of the first Internet companies to achieve great success, but it faced challenges along the way due to changes in technology and increasingly intense competition.
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