Yahoo7 cuts 10% of staff in 'review of operations'

Lindsay Bennett
By Lindsay Bennett | 12 October 2016
Image: Yahoo

Yahoo7 will cut 20 sales staff from its team in response to “changing market conditions”. The redundancies are thought to be 10% of the Australian team.

In a statement, CEO Ed Harrison says the company regularly reviews its operations to ensure the company "remains agile". 

“As a result of our most recent review, we have announced a number of team changes which include proposed redundancies in the Australian team, as we continue to focus on growth products,” he says.

The redundancies follow Yahoo’s tie up with telecommunications giant Verizon, with the aquisition announced in July. AdNews understands the deal could potentially end the company’s longstanding relationship with Seven West Media. 

It has been widely reported Yahoo has had some lack lustre results in recent times, with the company reporting a 19% decline in revenue in the first two quarters of this year.

Seven West Media continues to work with Yahoo, however the business does have the option to negotiate with Verizon about the joint venture.

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