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Yahoo Just Made Its First Round of Layoffs

February 11, 2016, 1:52 PM UTC
The Davos World Economic Forum 2014
Marissa Mayer, chief executive officer of Yahoo! Inc., pauses during a session on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, Jan. 22, 2014. World leaders, influential executives, bankers and policy makers attend the 44th annual meeting of the World Economic Forum in Davos, the five day event runs from Jan. 22-25. Photographer: Chris Ratcliffe/Bloomberg via Getty Images
Photograph by Chris Ratcliffe — Bloomberg/Getty Images

Yahoo announced Wednesday it will lay off 107 employees in the first of what is expected to be more than 1,500 job cuts.

The layoffs take effect April 11, and affected employees received 60-day advance notice of the move, Yahoo (YHOO) said in a notice filed with the California Employment Development Department. The layoffs were spread across a range of departments and job titles.

Yahoo shares closed up 1% at $27.10 on Wednesday and are down about 18.5% so far this year.


Yahoo CEO Marissa Mayer said during the company’s fourth-quarter earnings call this month it will cut roughly 15% of its workforce as part of a strategy to revamp its core Internet business.

Yahoo had about 11,000 employees as of June 30, according to its website, down from a Dec. 31, 2014, total of about 12,500 full-time employees and what it called fixed-term contractors.