From InfoWorld: Yahoo will cut 15 percent of its workforce and close some online services in a major turnaround plan announced Tuesday.
The company plans to double down on search, Mail, and Tumblr in hopes of attracting new users, and at the same time close some digital magazines as well as services like Games and Smart TV.
After the job cuts, Yahoo will have a global workforce of about 9,000 employees -- 40 percent smaller than it was in 2012, it said.
"This is a strong plan calling for bold shifts in products and in resources," CEO Marissa Mayer said in a statement.
The goal is to cut $400 million from Yahoo's expenses by the end of 2016. Yahoo will also explore selling off "non-strategic assets" that it said could raise it $1 billion in cash.
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