Profit down 64 percent: Yahoo cuts 1,400 jobs
In the third quarter, Yahoo's net income fell by 64 percent to $54 million. Following the sharp drop in profits, the Internet company is cutting at least 10 percent of its workforce. More than 1,400 employees are affected.
In the third quarter, Yahoo's surplus fell by 64 percent to 54 million dollars. Following the slump in profits, the Internet company is cutting at least 10 percent of its jobs. More than 1,400 employees are affected.
A few months ago, Yahoo turned down a takeover offer from Microsoft. Since then, the group has been under severe pressure, high-ranking managers have left the company and the share price has fallen by over 50 percent.
A few months ago, Yahoo turned down a takeover offer from Microsoft. Since then, the group has been under severe pressure, high-ranking managers have left the company and the share price has fallen by over 50 percent.
