Yahoo will be cutting 15% of its workforce, approximately 1,700 workers, and exit five offices in Dubai, Milan, Madrid, Buenos Aires and Mexico City. Yahoo also said that it will be exploring "strategic proposals" for Yahoo as the company is spinning off its investment in Alibaba from the operating core business. With this, Yahoo's headcount will be reduced to about 9,000 employees and 1,000 contractors. However, CEO Marissa Mayer remained optimistic about the company's turnaround. Yahoo will be looking to cut operating expenses by $400 million and focus on its mobile, video, native and social initiatives. Speaking on Yahoo's Alibaba spin off, Maynard Webb, chairman of Yahoo's board, said, "Separating our Alibaba stake from our operating business continues to be a primary focus, and our most direct path to value maximization. In addition to continuing work on the reverse spin, which we've discussed…
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