The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Information / Communication Information Service Activities Digital Infrastructure Services 63.1 - Data processing, hosting and related activities; web portals
1,700 jobs Number of planned job losses
Announcement Date
9 February 2023
Employment effect (start)
9 February 2023
Foreseen end date
31 December 2023
Description
Yahoo has announced a global restructuring plan to cut 1700 jobs from it's global workforce. Over half of the job cuts are expected to be in the company's business ad tech unit. Unlike much of the 'big tech' restructuring occurring during the end of 2022 and beginning of 2023, Yahoo has said this is not due to a drop in demand for advertising, but rather a restructuring of the advertising department, creating a new division called Yahoo Advertising, focusing ad sales on the company’s properties, including Yahoo Finance, Yahoo News and Yahoo Sports.
In parallel to the job cuts, Yahoo is still expanding and has stated it will look to relocate employees impacted by the job cuts to other units in the company, where possible. The restructuring process for employees and the involvement of social partners has not been mentioned.
Eurofound (2023), Yahoo, Internal restructuring in World, factsheet number 108600, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/108600.
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