New submitter xxxJonBoyxxx writes: Yahoo chief executive Marissa Mayer has announced plans to cut the company's workforce by 15% and close five foreign offices by the end of 2016 after announcing a $4.4bn loss. Yahoo shares have fallen 33% over the past year, including a 17% drop in the last three months. Its shares fell again in after-hours trading after Mayer announced her plan. Yahoo expects its workforce to be down to 9,000 and have fewer than 1,000 contractors by end of 2016. About a third of Yahoo's workforce has left either voluntarily or involuntarily over the last year. And the cuts may just be starting: one activist investor (SpringOwl) says the total number of employees should be closer to 3,000 for a company with its revenue.
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