Yahoo to axe 15% of workforce as part of cost cutting plan, reports say

Yahoo Inc is poised to announce job cuts that could see up to a 15% reduction in the company's staff numbers, according to reports.

Chief executive office Marissa Mayer on Tuesday reveal cost-cutting plans, which will also include the closure of several business units, the Wall Street Journal has reported.

The announcement will accompany Yahoo's fourth-quarter results, the WSJ said, citing sources familiar with the matter.

Reports earlier in the month suggested Meyer's latest plan to heave the internet giant out of a long period of stagnating growth included cutting roughly 10% of staff, mainly in its media business, European operations and platforms-technology unit.

In December Yahoo confirmed that it had decided to suspend work on a plan to spin off the company’s remaining holdings in Alibaba Group due to tax concerns.

The company said it would evaluate alternative transaction structures to separate the Alibaba stake, focusing specifically on a reverse of the previously announced spin-off transaction.

Meyer and fellow directors have been under pressure from investors, including activist Starboard Value, to find a buyer for the core search and display advertising businesses, or both.

Outside of Yahoo's stakes in Alibaba and Yahoo Japan, some investors have claimed the effective valuation of the company's core US business is less than zero.

Some analysts suggested the search and display advertising business could reap the group close to $4bn, with analysts at Cowen estimating a value of $3.84bn but those at Pivotal pencilling less than $2bn.