BURBANK — Yahoo Inc. has begun laying off more than 1,500 workers around the world, including an undisclosed amount at its Burbank campus on Empire Avenue, the Internet giant confirmed Wednesday.
The action follows Yahoo’s October announcement that the company would slash 10% of its global workforce as they look to cut costs following a bleak third quarter earnings estimate and weak revenue figures.
“We have begun to notify impacted employees,” spokesperson Brad Williams said. “The majority of them will be notified today.”
Williams would not reveal the extent to which Burbank or other regional Yahoo locations will be affected, but the company employs about 1,000 people at its 3333 Empire Ave. campus.
Yahoo has not announced further employee cuts this year, but said that the company is open to laying off more workers as economic conditions warrant next year.
“It’s hard to predict how market conditions might impact the need to make further cuts,” Williams said. “We’re open to it but there are no specific plans.”
Williams said the company could also consolidate its regional campuses or close offices altogether, though there are no current plans to close Burbank’s office.