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Yahoo! Inc. (NASDAQ: YHOO) has a "kill list," at least according to a report by Re/code.
Re/code reported on Thursday that Yahoo CEO Marissa Mayer has a "kill list" as part of a restructuring initiative. As part of this "kill list," management will evaluate various segments, businesses and other assets to "invest, maintain, or kill."
The publication continued that in addition to the "kill list," Yahoo will also initiate "more substantive firing numbers" that department managers will receive in two weeks.
Citing "numerous sources close to the situation," Re/code added that all levels of employees across Yahoo will be affected.
Following a first round of job cuts, Yahoo will "begin to shed more jobs," although "it is not clear if the effort will be as wide-ranging as some outsiders have demanded." Re/code added that what is clear is the fact that the company "can ill afford to lose" some of the "smart and ambitious" young executives that will be leaving the company.
Shares of Yahoo were trading lower by more than 1.9 percent at $29.11 late Thursday morning.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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