February 4, 2016
This week, Yahoo Inc. announced its plan to reduce its workforce by 15 percent by the end of the year, reportedly affecting about 1,700 employees. Additionally, the company says it is shutting down some digital magazines, consolidating others, and closing offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan.
Facing immense pressure to its legacy business and shareholder calls for change, the company’s board is pushing for “strategic alternatives.” That plan is aimed at cutting operating expenses by more than $400-million by the end of the year.
While an outright sale of the company may yet come to fruition, the impact of the changes will be felt in commercial real estate circles. The company says it’s exploring the sale of non-core assets, which includes real estate, to generate between one and three billion dollars in cash.