Yahoo to lay off 20% of staff by year end, beginning this week

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Private equity firm Apollo Global Management acquired 90% of Yahoo from Verizon in Sep. 2021. Axios reported that more than 1,600 individuals would lose their jobs in the latest cuts, suggesting that the companys present head count was closer to 8,000 employees. The layoffs are part of a broader effort by the company to streamline operations in Yahoos advertising unit. "These decisions are never easy, but we believe these changes will simplify and strengthen our advertising business for the long run, while enabling Yahoo to deliver better value to our customers and partners," the Yahoo spokesperson said. A Yahoo spokesperson did not immediately respond to follow-up questions sent by CNBC.

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