News of mass layoffs has become almost a daily occurrence. Two technology companies – “Yahoo” and “GitHub” – have just come up with such plans. Yahoo plans to lay off 20% of its workforce, affecting around 1,600 workers, while GitHub plans to cut 10% of its workforce and will operate entirely remotely.
“Yahoo” CEO Jim Lanzone (Jim Lanzone) revealed that the layoffs are not directly related to concerns about the economic situation. Rather, it was a carefully considered decision to strengthen the unprofitable advertising segment of Yahoo for Business. About half of the employees of this department will be dismissed. But overall, Yahoo is doing pretty well financially, with $8 billion in revenue last year.
Microsoft-owned GitHub has also announced mass layoffs. The company plans to lay off 10% of the workforce, or around 300 workers. In addition, GitHub plans to close all of its offices, partly due to their infrequent use, and work entirely remotely. Also, the company will not hire new employees for some time. GitHub justified its decision with the need to “protect the short-term health of the business” and the desire to invest in long-term strategy and growth.
