YAHOO! Inc. laid off its employees working on editorial content for its 6-year-old Philippines business. A thanksgiving party was held on Friday evening, a person knowledgeable about the matter told the Businessmirror.
Those let go included Yahoo! Philippines Country Manager and Country Editor Kate de los Reyes who took on the job in 2013.
Persons familiar with the matter said de los Reyes is one of three full-time employees who received a separation package. Those hired on a part-time or contractual basis were given a separation pay equivalent to two months of their annual salary. The Businessmirror was told the company would have content edited by Jeffrey Oon in Singapore. They would have curated editorial content gathered from the Internet and not rely anymore on the local stringers or correspondents, the Businessmirror was informed.
Yahoo! would probably link up with existing news agencies for their content, Businessmirror learned. The company, however, will maintain its sales team. When asked for a reaction, a Yahoo! spokesman unnamed by Robert Po said: “Our practice is to not comment on internal matters.”
“We constantly make changes to better align our resources and investments with our strategic priorities,” the Yahoo! spokesman added.