Yahoo Inc is looking for strategic alternatives" for its core Internet business and cut about 15 percent of its workforce along with the business revamp. Yahoo CEO Marissa Mayor decided to close offices in five locations, pare down its products, shift more resources to mobile search, and sell some non-strategic assets such as real estate and patents.
Meanwhile, mayor opined that Yahoo will have three main consumer-focused platforms, Search, Mail and Tumblr, and four verticals, or what it called "digital content strongholds," News, Sports, Finance and Lifestyle and these changes will improve our course and institute a positive trajectory on our earnings. Tough competition from Facebook Inc and Alphabet Inc's Google made yahoo to drop in quarterly revenues as it struggles to keep its share of online search and display advertising.
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