Yahoo cuts workforce, offices.

mayer-marissaThe CEO of the pioneering Internet company, Marissa Mayer, has announced that she intends to lay off 15% of their workforce (about 1700 people) and to close five offices (all outside the United States). Reports note that the company will also abandon its original television programming, will consolidate its digital magazines, is likely to sell off some of its real estate, and will close down a number of longtime favorites like Yahoo Games. According to Mayer, in a statement released last week, “We’re announcing a strategic plan that we strongly believe will enable us to accelerate Yahoo’s transformation. This is a strong plan calling for bold shifts in products and in resources.”