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Yahoo to Lay Off 20 Per Cent of Workforce

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Yahoo said Thursday that it will cut 20% of its total workforce by the end of this year as it restructures its advertising unit, just the latest example of the layoffs spreading throughout the tech and media industries.

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A Yahoo spokesperson told CNN that the company’s legacy ad tech division, Yahoo for Business, will be overhauled and transformed into a new division called Yahoo Advertising. As part of that change, Yahoo plans to cut nearly 50% of the division this year, “including nearly 1,000 employees this week,” the spokesperson said.

“These decisions are never easy, but we believe these changes will simplify and strengthen our advertising business for the long run, while enabling Yahoo to deliver better value to our customers and partners,” the spokesperson said in a statement.

Axios, which was first to report the news, said the job cuts will impact more than 1,600 people in total. Yahoo did not immediately respond to a request for comment on the matter.

Yahoo CEO Jim Lanzone told Axios in an interview that these changes will be “tremendously beneficial for the profitability of Yahoo overall,” and will allow the company “to go on offense” and invest more in other parts of its business that are profitable.

The announcement comes as a growing number of tech and media companies are cutting costs to adjust to a pullback in digital advertising spend amid broader uncertainty in the global economy.

Once synonymous with the internet itself for much of the 1990s, Yahoo struggled to find relevance in subsequent decades as Google dominated search and social media platforms like Facebook, Instagram and YouTube replaced it as leading online destinations.

Apollo Global Management, a private equity firm, acquired Yahoo in 2021 for $5 billion from Verizon, which had bought the company in 2017.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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EFCC Arrests Delta Accountant General Over ₦1.3 Trillion Fraud

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Economic and Financial Crimes Commission (EFCC) has arrested Mrs Joy Enwa, the Accountant General of Delta State, in connection with the alleged misappropriation of N1.3 trillion linked to former Governor Ifeanyi Okowa.

The EFCC is investigating funds reportedly diverted from the 13 percent derivation allocation intended for oil-producing states. Alongside Mrs Enwa, the anti-graft agency has questioned other officials, including a former Director of Finance and Administration and a senior Government House staff member.

EFCC spokesperson Dele Oyewale confirmed the arrest, stating, “Mrs Enwa was detained for questioning over the ongoing investigation into the mismanagement of state funds under the former administration. Some other government officials have also been interrogated.”

Mrs Enwa, who was appointed Accountant General by Okowa in 2020, previously served as Deputy Accountant General under Governor Emmanuel Uduaghan.

She had earlier faced allegations of involvement in a N369 million fraud case in 2015, which implicated other state officials and bank representatives.

The ongoing investigation has also uncovered assets allegedly tied to the fraud, including shares in UTM Floating Liquefied Natural Gas Company and investments in the oil sector.

Former Governor Okowa was detained by the EFCC in November at the agency’s Port Harcourt office over accusations of diverting state funds for personal enrichment.

When approached for comments, Mrs Enwa declined to elaborate, saying, “I am not the right source to confirm this story. Please contact the EFCC for clarification.” The EFCC continues its probe into what could be one of the largest financial scandals in Delta State’s history.

 


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NCDC Activates Emergency Response as Lassa Fever Kills 190

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Nigeria has launched an emergency response centre after recording 190 deaths from Lassa fever, a viral hemorrhagic illness, according to Nigerian Center for Disease Control (NCDC).

NCDC Activates Emergency Response as Lassa Fever Kills 190

The disease, mainly transmitted to humans via contact with food or household items contaminated with rodent urine or excrement, has infected 1,154 people in six Nigerian states.

Jide Idris, head, Nigerian Center for Disease Control, said the agency’s risk assessment has categorized it as high, prompting the activation of the emergency Operations Centre to manage the outbreak.

“While the disease occurs throughout the year, peak transmission typically happens between October and May, coinciding with the dry season when human exposure to rodents increases,” he said at a press briefing in Abuja.

The centre will ensure seamless coordination of the control and management of the outbreak.

Symptoms of the virus – which can also be passed between people through bodily fluids of those infected – include fever, headaches and, in the most severe cases, death.

The World Health Organization classifies Lassa fever as a priority disease due to its epidemic potential and lack of approved vaccines.

 

 


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2025 Budget: FG Earmarks N1.5Bn for Airports’ Internet, Others

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Federal government has proposed to spend N1.5bn for internet services for passengers at five international airports in the country.

2025 Budget: FG Earmarks N1.5Bn for Airports’ Internet, Others

The project, “Provision/Upgrade of WiFi Services for Passengers in Five International Airports and some Domestic Airports” was listed as a new project in the 2025 appropriation.

In some parts of the world, access to the internet via Wi-Fi at airports is regarded to be a basic human right.

Such amenities are lacking in Nigeria.

But the 2025 budget presented to the National Assembly last week by President Bola Tinubu saw the sum of N105.953,496,365 being allocated to the Ministry of Aviation.

Apart from internet access at the airports, some other capital allocations were reinstated for the Nigerian Airspace Management Agency (NAMA).

In previous budgets, three agencies of the ministry including the apex regulatory agency, the Nigeria Civil Aviation Authority (NCAA); the Federal Airports Authority of Nigeria (FAAN) and NAMA were exempted from the annual budgetary allocation.

In addition, the federal government deducts 50 per cent of the Internally Generated Revenue (IGR), which is against the standard and recommended practices of the International Civil Aviation Organisation (ICAO), which recommends that the funds generated by the agencies should be reinvested into improving infrastructure and boosting aviation safety.

 


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