Recent reports by “Affinity Group Solutions” revealed that internet giant Yahoo Inc announced recently that it would be shedding 5 percent of its workforce as it struggles to remain profitable in the current economical downturn.
The “Affinity Group Solutions” spokesperson stated that the job cuts will apparently be across the whole of their global operations. Yahoo hopes this measure will help control costs, keeping the company profitable.
Sources at “Affinity Group Solutions” have speculated that revenue from its website operations has decreased in recent times and Yahoo is looking at ways to bring some life back to the company’s fortunes.
Yahoo CEO Carol Bartz is the one who will be taking on the challenge of keeping cost down and the company profitable.
“Affinity Group Solutions” sources reported that Yahoo Inc will trim around 1,600 jobs leaving approximately 13,600 employees at the company.
The news of the job cuts was broken to Yahoo staff via a memo which was sent to every employee. “Affinity Group Solutions” expects there to be a shutdown of operations beginning at the end of this year.
Following this news, Yahoo share prices rose. For the shareholder this is good news as it demonstrates that Yahoo are on top of any challenges that the company faces during these tough times.
Following this news, Yahoo share prices rose. For the shareholder this is good news as it demonstrates that Yahoo are on top of any challenges that the company faces during these tough times.
