Yahoo to cut 4 percent of workforce
(Reuters) - Yahoo Inc said on Tuesday that it will cut 4 percent of its workforce, as the struggling Web portal seeks to adjust its operations and revive its revenue growth.
Yahoo will lay off about 600 employees, mostly in the company's product group, said spokesperson Kim Rubey. The company began notifying employees on Tuesday, he added.
Yahoo issued a statement on Tuesday that the company would continue to hire globally to support key priorities.
"Today's personnel changes are part of our ongoing strategy to best position Yahoo for revenue growth and margin expansion," said the statement, which also noted that the company was offering severance packages and outplacement services to the affected employees.
Yahoo had 14,100 employees at the end of September, according to information on the company's website.
(Reporting by Alexei Oreskovic; editing by Gunna Dickson)
Credit: Reuters (www.reuters.com)
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