Sunnyvale-based Yahoo is planning another round of layoffs, which could total 10 percent or more of its workforce, according to a report Wednesday evening in Business Insider.
Anonymous sources told the site that the cuts could reduce the company’s workforce by more than a thousand employees and may begin this month. Business Insider reported that the layoffs may target the company’s European operations as well as its media business and platforms-technology group; they could total more than 1,000 positions.
On Wednesday morning, activist shareholder Starboard Value expressed “extreme” frustration with the company’s current leadership, suggesting that they may push for the ousters of both the current board of directors and CEO Marissa Mayer. A company spokeswoman said in an email that Yahoo was “in the midst of a multiyear transformation” and would share “additional plans for a more focused Yahoo” in its earnings call at the end of the month.
Earlier this week, the company announced that it was shutting down Yahoo Screen, its video platform that had hosted NFL telecasts, videos from “Saturday Night Live” and the most recent season of the sitcom “Community,” which previously aired on NBC.
The company has shed thousands of workers in reorganization efforts since Mayer took over in 2012. She has sought to re-establish the company as a leader in the search business while also trying to diversify its offerings to find profit in other sectors.
The company’s shares fell just 4 cents to $32.16 in trading Wednesday, hours before the layoff report broke.
Staff writer Levi Sumagaysay contributed to this report.
