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Yahoo to Lay Off 15%, Consider Reverse Spin-Off

Accepted submission by Phoenix666 at 2016-02-02 22:59:00
Techonomics

Phoenix666 [soylentnews.org] writes:

Yahoo on Tuesday announced [cnbc.com] it would consider a reverse spinoff and cut about 15 percent of its workforce as part of a restructuring to boost a sluggish core business.

The tech company also posted quarterly results broadly in line with analysts' expectations. Yahoo reported adjusted fourth-quarter earnings of 13 cents per share on $1.27 billion in revenue.

Analysts expected Yahoo to report earnings of about 13 cents per share on $1.19 billion in revenue, according to a consensus estimate from Thomson Reuters. Yahoo shares fell nearly 3 percent in after-hours trading.

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