Yahoo technology company today announced losses for four thousand 359 million dollars in 2015 and unveiled a cost-cutting plan that includes reduction of 15% of its workforce, and the closure of offices in Madrid, Buenos Aires, Mexico city, Dubai and Milan.
the company said in a statement that by the end of this year expects to have about nine thousand employees and the number of contractors is less than one thousand, one workforce by 42% lower than in 2012.
the technology firm said the “aggressive strategic plan” released today aims to increase revenue from mobile operations, video and social networks to thousand 800 million dollars this year.
addition, Yahoo searches its gross operating profit (Ebitda) ronde billion dollars in the second half of 2016 and reduce operating expenses by more than 400 million by the end of 2016.
“Today we are announcing a strategic plan that we believe, in the strongest terms, will enable us to accelerate the transformation of Yahoo,” said company CEO, Marissa Mayer statement said.
Maynard Webb, chairman of the board of Yahoo, said the board supports “efforts” of the management team of the company and fully supports the plan announced today.
“the board also believes that further explore alternative strategies, in parallel with the implementation of the management plan, it is in the interest of shareholders,” said Webb.
daily the Wall Street Journal referred to the statements of Webb as the clearest to date that the board considers the sale of the assets of Yahoo Internet, by which it is known to test the company.
the company said today that it has begun to explore the sale of non-core assets such as patents, real estate and other non-core assets.
Yahoo expects these operations to generate a billion and three billion dollars in cash by the end of the year.
telecommunications company Verizon has expressed interest in buying Yahoo.
otherwise, Yahoo unveiled four losses today thousand 359 million dollars in 2015, compared to seven thousand 522 million dollars in profits
2014. the financial health of Yahoo I was helped in 2014 by earning six thousand 300 million dollars arising from the spin-off of its stake in the Chinese e-commerce company Alibaba.
revenues from the technology company reached four thousand 968 million dollars in 2015, compared to four thousand 618 million 2014 dollars.
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