Yahoo Expected to Outline Cost-Cutting Efforts
Grow Your Business, Not Your Inbox
Yahoo Inc is expected on Tuesday to outline cost-cutting efforts and give details of how it is evaluating possible acquisitions as it faces pressure from an activist investor, the Wall Street Journal reported, citing a person who was briefed on the plan.
Representatives at Yahoo did not immediately respond to an email seeking comment outside regular U.S. business hours.
Last month, activist investor Starboard Value LP publicly pressured Yahoo to cut what it referred to as a "bloated" cost structure.
Starboard, the second activist investor to target Yahoo in the last three years, also said the company should quickly "monetize" its Asian assets, which exceed the enterprise value of its actual business.
Earlier this month, Yahoo said it is reducing the size of its operations in Bangalore, India, the Internet company's largest engineering facility outside its California headquarters. It is also closing its office in Jordan.
Yahoo is "streamlining" its operations in foreign offices, which might involve a combination of closing offices, cutting jobs and moving workers to its Sunnyvale, California, headquarters, the Journal said.
(Reporting by Supriya Kurane in Bangalore; Editing by Gopakumar Warrier)