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Yahoo to look at strategic alternatives, cut jobs, alongside spin-off

The announcement is the strongest sign yet that Chief Executive Marissa Mayer may be willing to sell the struggling Internet business of Yahoo, which was a web pioneer in the 1990s but has since been eclipsed by Alphabet's Google and Facebook in the battle for online advertisers. Yahoo shares, down about 36 percent over the past 12 months, fell a further 0.9 percent after hours. "In a business that's kind of booming from an industry standpoint ... if the only thing you can come out and tell me is you're going to cut people to try to restore profitability through headcount, there's something huge missing here," said Martin Pyykkonen of Rosenblatt Securities.