Yahoo to Pursue Asset Sales, Cut 15% of Staff

February 2, 2016 9:45 PM

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Yahoo to Pursue Asset Sales, Cut 15% of Staff

Yahoo! Inc. Chief Executive Officer Marissa Mayer is exploring strategic alternatives for the company’s beleaguered Web business while slashing staff by about 15 percent and exiting product lines, giving in to demands by restive shareholders displeased by her failure to boost growth.

The Sunnyvale, California-based company will fire employees, shutter more offices and devote more resources to increasing engagement with users, Yahoo said Tuesday in a statement. Mayer’s plan was unveiled as the company reported fourth-quarter sales and profit that exceeded analysts’ estimates, off...

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