Yahoo will lay off 90% of its employees in Italy. This is what we learn from union sources. Oath Italy, a company that represents Yahoo, has started the procedure announcing 19 redundancies out of 21 employees. The cut will affect workers at the Milan and Rome offices and is the effect of the broader layoff plan announced by the company in February: reducing its global workforce by 20%.
Yahoo will minimize its presence in Italy. And it is the second tech company to announce after Meta, which last November 10 announced the dismissal of 22 of the 130 employees in Italy. A part of the 11,000 layoffs decided globally.
The meeting between trade unions and company
The trade unions (Filcams Cgil, Fisascat Cisl and UilTuCs), together with the company trade union representatives, have already had a first meeting with the company. Without, however, registering progress in the negotiation.
The trade union acronyms accuse of having had “meager responses that are not very useful for a real comparison and a joint examination as required by current legislation”. A second meeting will be held on March 8 to try to minimize “the social impact and the repercussions on male and female workers”, the unions say.
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Meanwhile, a message appeared on the Yahoo Italia website: “Starting from January 31, 2023, Yahoo Italia will no longer publish content”. While “other services, such as Yahoo Mail and Yahoo Search, are not affected by these changes”. A sign that the company is rethinking its presence in the country.
Private equity firm Apollo Global Management acquired 90% of Yahoo from Verizon in September 2021. At the time, the company had about 10,000 employees, according to data from PitchBook. The cuts decided in February according to Axios would have affected about 1,600 workers globally. That suggests that the number of employees in the company is approaching 8,000 people.
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