February 2, 2016 / 9:49 PM / in 2 years

Yahoo to explore strategic alternatives alongside spin-off

(Reuters) - Yahoo Inc YHOO.O said on Tuesday it was exploring strategic alternatives in addition to the continued pursuit of the reverse spin-off of its Internet business.

Marissa Mayer, President and CEO of Yahoo, participates in a panel discussion at the 2015 Fortune Global Forum in San Francisco, California November 3, 2015. REUTERS/Elijah Nouvelage

Yahoo said it would simplify its product portfolio and that it had begun to explore divesting non-strategic assets.

The company also said it would cut about 15 percent of its workforce and close offices in five locations as it faces intense competition for ad dollars from Facebook Inc (FB.O) and Alphabet Inc’s (GOOGL.O) Google.

Yahoo also reported fourth-quarter results on Tuesday.

Reporting by Abhirup Roy and Anya George Tharakan in Bengaluru; Editing by Robin Paxton

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