In Realignment, Yellow Pages To Cut 300 Jobs
In what they are calling a corporate “realignment,” Yellow Pages has announced the company will be cutting 300 jobs by the end of the month as they look to trim offline operations and move away from their print directories to more online products. The 300 jobs are said to represent 10 per cent of Yellow Pages’ work force and will be management positions that no longer are aligned with its new digital strategies.
During their most recent quarterly earning the company’s revenue fell 7.2 per cent, year over year, while print revenue fell 21.2 per cent. However, digital traffic visits increased by 5.6 per cent and added customers at a faster rate, both of which are key metrics for its future.
Back in 2012 Yellow Pages actually issued a press release stating the will be embracing digital, but never made any significant moves since then. Better late than never?
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Tags: Yellow Pages Group