Yahoo Axes 1,600 Workers: Report

SUNNYVALE, CA — One of Silicon Valley's pioneers of Internet search is now handing out pink slips.

Yahoo plans to lay off more than 1,600 employees, which is more than 20 percent of the Sunnyvale-based company’s global workforce, Axios reports.

The company will reduce its ad tech unit’s headcount by around 50 percent, signaling the company's plans to abandon efforts to compete with Google and Meta in the digital advertising sphere.

Around 1,000 jobs were expected to be eliminated Thursday, with the remaining layoffs expected to happen in the second half of 2023, the report said.

Read more at Axios