Yahoo Axes 1,500 Employees
As previously reported, Yahoo on Wednesday began laying off employees, following up on an announcement to cut its workforce by at least 10 percent in an effort to turn the struggling company around, AFP reports.
Meanwhile, Ivory Investment Management, which owns a 1.5 percent stake in Yahoo, is pushing Yahoo’s board to sell its Internet search business to Microsoft, a refrain we’ve heard before.
“This is a tough time for all of us,” Yang wrote in an e-mail to employees.
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