Yahoo Announces Plan To Lay-Off Thousands Of Employees As CEO Marissa Mayer Attempts To Save Her Job

 

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2016 started off with an unfortunate twist for a lot of working citizens worldwide when it was announced that Walmart would be closing 269 of their stores, forcing 16,000 employees to find new jobs fast enough to make ends meet. I can still recall the different from people on social media when the news first broke: Many people were upset, while some said “It’s just Walmart, no big deal… Relax!” Fast forward to three weeks later, and now Yahoo is joining in on the purge movement. It was announced earlier this week that Yahoo, a multinational technology company, is making plans to fire 15% of their workforce, which translates into thousands of current employees being let go. Why, you ask? Sources have hinted that Yahoo’s CEO Marissa Mayer, who is set to announce the immediate layoffs, is doing this to build up her reputation and protect her position. Just yesterday, CNN Money reported that, “The layoffs would give Mayer another tool in her arsenal to fight off a looming fight with activist shareholders, who want to wrest control of the company away from her. By making Yahoo leaner and more profitable, Mayer could gain some key supporters.”

 

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Marissa Mayer, Yahoo! CEO

 

The news of the unexpected layoffs also revealed the employee ranking system created by Marissa Mayer. This ranking system has been used for Yahoo’s quarterly performance review over the past few years, where staff members are ranked on a scale of 1 to 5 and graded “appropriately.” According to NY Times, “The ratings have been used to fire hundreds of employees since Ms. Mayer joined the company in mid-2012.”

But, wait! There’s more, and it’s getting dirty. Click here to read on

 

 

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