Yahoo estimates $64-78 mn restructuring charges, mostly in Q1

Yahoo Inc estimated that a plan to cut jobs and other restructuring moves would result in pretax charges of $64 million to $78 million, mostly in the first quarter of 2016.

| Last Updated: Mar 01, 2016, 09:51 AM IST | Source: Reuters

Yahoo estimates $64-78 mn restructuring charges, mostly in Q1

Yahoo Inc estimated that a plan to cut jobs and other restructuring moves would result in pretax charges of $64 million to $78 million, mostly in the first quarter of 2016.

Of the total, $40 million to $48 million would be for severance pay and related cash expenditures, the company said in a regulatory filing on Friday.

Yahoo said on Feb. 2 it would reduce its workforce by 15 percent by the end of 2016 and close offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan.

The company`s shares were up nearly 2 percent at $31.98 in morning trading on Monday.

Yahoo estimates $64-78 mn restructuring charges, mostly in Q1

Yahoo Inc estimated that a plan to cut jobs and other restructuring moves would result in pretax charges of $64 million to $78 million, mostly in the first quarter of 2016.

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