Yahoo announces a bold turnaround plan — including 1,600 job cuts

February 3, 2016 12:22 AM

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Yahoo announces a bold turnaround plan — including 1,600 job cuts

Yahoo unveiled an ambitious turnaround plan Tuesday — but that may not keep it off the auction block.

Chief executive Marissa Mayer announced that Yahoo will cut 15 percent of its workforce by the end of 2016 -- about 1,600 jobs -- and entertain "strategic proposals" for its future, an indication that the company is open to selling itself to a suitor.

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