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Yahoo Announces Its First Round of Layoffs

Published: Feb 10, 2016 1 min read

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Yahoo Said to Propose Job Cuts as Part of Mayer's Revival Plan
People walk between buildings on the Yahoo! Inc. headquarters corporate campus in Sunnyvale, California, U.S., on Thursday, Jan. 7, 2016.
Bloomberg via Getty Images

Yahoo announced Wednesday it will lay off 107 employees in the first of what is expected to be more than 1,500 job cuts.

The layoffs take effect April 11 and affected employees received 60-day advance notice of the move, Yahoo said in a notice filed with the California Employment Development Department. The layoffs were spread across a range of departments and job titles.

Yahoo shares closed up 1% at $27.10 on Wednesday and are down about 18.5% so far this year.

Yahoo Chief Executive Officer Marissa Mayer said during the company's fourth quarter earnings call this month it will cut roughly 15% of its workforce as part of a strategy to revamp its core Internet business.

Yahoo had about 11,000 employees as of June 30, according to its website, down from a Dec. 31, 2014, total of about 12,500 full-time employees and what it called fixed-term contractors.