World Economy

Yahoo Cutting Workforce

Yahoo Cutting WorkforceYahoo Cutting Workforce

Internet pioneer Yahoo has posted a $4.4 billion loss for the last quarter of 2015. In a bid to save the struggling business, the firm has said it will slash jobs and sell “non-strategic” assets. Yahoo announced on Tuesday that it had made the decision to cut 15% of its workforce as the once-massive internet firm continued to flounder amongst competition from rivals, such as Google. The cuts will amount to around 1,500 jobs and close offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan.