Search for  in 
spain jobs
backprinttell a friend

Yahoo to close Madrid headquarters to offset multi-billion-dollar losses
thinkSPAIN , Thursday, February 4, 2016

EMAIL provider and search engine Yahoo has announced the closure of its Madrid office due to major losses.

Last year, the US-based corporation recorded losses of $4.36 billion (just under €4bn), leading its bosses to decide to axe 15% of staff.

Offices in Madrid, México DF, Dubai and Buenos Aires will close down as part of an 'aggressive strategic plan', which will also involve a drive to increase its earnings from mobile phone operations, video and social networks up to US$1.8bn.

Yahoo is seeking a gross exploitation result, or EBITDA, of US$1bn for the second half of 2016, and to reduce its operating costs by more than US$400 million by the end of the year.

“We have announced a strategic plan which we firmly believe will allow us to accelerate Yahoo's transformation,” announced the company MD, Marissa Mayer.

Chairman of the board Maynard Webb said he supported 'all efforts' by the management team and 'fully backed' the announced plan.

“The board of directors also believes that exploring alternative additional strategies at the same time as the current management plan will benefit shareholders,” Webb announced.

Yahoo's losses of US$4,359,000,000 contrast sharply with its profits of US$7.52bn in 2014, partly helped by a US$6.3bn boost through the excision of its participation in Chinese online trading company Alibaba.



Print Share Article RSS News Feed
print tell a friend stumble it!  delicious  digg it!  facebook   rss feed View feed | Add to my RSS reader rss feed

Latest Madrid News
Madrid transport authority assures airport metro line will not close until after FITUR and coaches will be provided
Transport (inc Motoring) - (20/10/2016)
Public protest of 500 people support immigrants who staged rooftop mutiny
Community/Public Services - (20/10/2016)
All-night rooftop protest at Madrid immigration centre
Community/Public Services - (19/10/2016)
Latest Business/Economy articles
Protests over TTIP and CETA in Madrid, Barcelona, Valencia and beyond
Spain  - (16/10/2016)
Balearics' first bitcoin cashpoint opens in Alcúdia
Balearic Islands  - (3/10/2016)
Inditex profits up by 8% with 83 new stores and 10,000 extra jobs in six months
Spain  - (24/9/2016)
Follow thinkSPAIN on
Facebook Twitter
Spanish news archive Costa Blanca news Costa del Sol news Alicante news Castellon Valencia news Barcelona news Catalonia Costa Brava news Madrid news Tenerife news Canary Islands Malaga news Marbella news Andalucia news Sevilla news Costa Almeria news Murcia news Costa Calida Aragon news Asturias news Balearic news Mallorca Menorca news Ibiza Basque news Bilbao Cantabria news Castilla La Mancha news Castilla Leon news Extremadura news Galicia news La Rioja news Navarra news Spanish Travel Tourism news Spanish Property Spain directory services Spanish Jobs in Spain Postcodes Spanish weather Spain History Spanish Culture Flamenco dancers Sevillanas Bullfighting bullfight bull fighting matador bullfighter Spanish Education Spain Schools Facts about Spain Clubs in Spain mortgages Spanish bank Spain banking Spanish banks Spain inheritance Spanish wills Spanish healthcare in Spain Working in Spain work Spanish employment Driving Spain cars Spanish car Spain Tax & Spanish Residency Property in Spain for Sale Spanish property to rent Spain holiday lets Spain news Spanish Properties costa blanca weather costa del sol weather local news/info Spanish estate agents Off Plan property Spain | Costa Blanca property | Costa del Sol property | Costa de la Luz property | Costa Brava property | Costa Almería property | Costa Cálida property | Costa Valencia property | Costa Azahar property | Costa Dorada property | Costa Garraf property | Costa Maresme property | Costa Vasca property | Costa Verde property | Costa Tropical property | Rías Altas property | Rías Baja property
© 2003-2016 Think Web Content, S.L. - All rights reserved