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February 3, 2016

for yahoo the end seems near , sacks 15% workforce and close down 6 global offices

Yahoo continues to be battered by the stock markets and  employees alike as the company decided to do what it does the best.. more firings and more offices to be closed
With its decision to sack  15% global workforce as well as close its  regional offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan, Yahoo has also decided to end  products such as Games and Smart TV.

However if the  company actually belives that these cuts can prevent " the collapse of yahoo" it must be day dreaming.. Unless yahoo starts focusing on the core products it has ( search/ content and video) these cuts and bruises will only  be cosmetic in nature

The cuts will reduce Yahoo!'s ranks to 9,000 employees and fewer than 1,000 contractors, and save an estimated $400m in operating costs. Additionally, Yahoo! plans to sell off around $1bn worth of its holdings, including real estate and patents.




 Meanwhile the latest financial results published yesterday shows Yahoo is loosing its ground further in online search and display advertising, facing increasingly tough competition from rivals Facebook (FB) and Alphabet's Google (GOOG).

For yahoo this sacking will save the company of of 4 billion USD.The cuts will include closing offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan, and the end of products such as Games and Smart TV. The cuts will reduce Yahoo!'s ranks to 9,000 employees and fewer than 1,000 contractors, and save an estimated $400m in operating costs. Additionally, Yahoo! plans to sell off around $1bn worth of its holdings, including real estate and patents.

Meanwhile  Inside Yahoo ,employee motivation is at its lowest, Some employees at Yahoo are so fed up of Marissa Mayer that they have given her a snarky little nickname called "Evita," in reference to Eva Peron, the former wife of Argentinian dictator Juan Peron, known for her rise to power and desire for fame. However things were not always this way for Marissa .

Marissa Mayer took over as the Google blue eyed lady .. and many were relieved to have someone as Marissa as the CEO. as unlike her predecessors who were more from the entertainment industry working with movie studios or mainstream media industry. Mayer represented  a quintessential " new media  with just the right background and skills
Mayer bought with her  at Yahoo an enormous understanding of consumer web , technology and deep insights on product development, strategy and operational Innovativeness.  However despite a good start at Yahoo  , she lost her steam and along with that the support of some of her key investors and people .

Last year the number of departures at Yahoo, exceeded one third of its workforce. Citing a Glassdoor survey, the report said that only 34% of Yahoo employees are keen to stay .. while a whopping 52% employees are keen to get out .. while rest 12% as not yet decided