Yahoo plans first wave of job cuts

Yahoo has made official its first wave of job cuts under its revitalization plan.

The Sunnyvale, Calif. online and mobile advertising and content company gave 60-day notices to 107 employees at its headquarters in a state labor report filed Wednesday.

The layoffs, which take effect April 11, are the first of an expected 1,500-plus job cuts and were spread across a range of departments and job titles.

“As part of our strategic plan, we have made the difficult but necessary decision to reduce our workforce in order to more efficiently align resources and position the company for a stronger future. We will provide more clarity to our employees who are impacted by these decisions in the coming weeks," the company said in a statement emailed to USA TODAY.

Earlier this month, the struggling Net company announced plans to cut about 15% of its workforce as part of a $400 million cost-cutting effort meant to "simplify" its operations.

Yahoo is also exploring the sale of non-strategic assets, such as real estate, that could raise $1 billion in cash. And the company's board is looking at "strategic alternatives" that include a sale of some or all of Yahoo's core Net business. 

"We believe a simplified Yahoo will increase shareholder value over the long term,” said CEO Marissa Mayer last week during the company's earnings call Tuesday. “Having fewer products means we can improve those products faster and increase profitability and focus.”

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