Yahoo reduced staff by 4%, laying off more than 500 employees

After a few weeks of no official response from Yahoo to rumors of layoffs, a Yahoo spokesman finally confirmed that the company would issue a notice of dismissal to employees today. Yahoo will dismiss about 4% of all its employees, which is about 560 people.

Here is the official comment:

Today's staffing changes are part of our strategy to increase Yahoo! revenue growth and increase margins and support our strategy for delivering differentiated products to the market. We will continue to hire employees on a global basis to support our core priorities.

Yahoo! expresses gratitude for the important contribution made by the staff who were stung by this reduction. We will provide retirement benefits and employment assistance to these employees.

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According to previous rumors, Yahoo planned to dismiss about 5% of 14,100 employees (according to the October financial report for the third quarter), so it’s still good that the reduction is less than expected.