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$YHOO announced plans to reduce about 15% of its current workforce and closing five offices. By the end of 2016, $YHOO anticipates having about 9,000 employees, 42% fewer than it had in 2012. "Today, we're announcing a strategic plan that we strongly believe will enable us to accelerate Yahoo's transformation," said CEO Marissa Mayer.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.