Yahoo Expected to Announce Restructuring

Posted by at 9:35 am on February 1, 2016

Yahoo App LogoYahoo will unveil a plan to cut costs on Tuesday, reports the Wall Street Journal, which will include closing select business units and further trimming its workforce.

Yahoo CEO Marissa Meyer and CFO Ken Goldman will discuss the plans after announcing the company’s fourth quarter results. Employee cuts may reach 15%, or around 1,600 people.

The Journal’s sources didn’t say what business units might be shuttered, but Yahoo will put greater focus on Project Index, which targets improving search on mobile phones. Yahoo has been plagued by high costs and stagnant growth for years.

The company has already cut numerous products and services from its roster, as well as thousands of employees. Yahoo will report earnings after the close of markets Tuesday afternoon.

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