Yahoo To Cut 1,700 Workers As CEO Tries To Save Her Own Job

[Purveyor]

Source: ASSOCIATED PRESS

SAN FRANCISCO (AP) -- Yahoo is laying off about 1,700 employees and shedding some of its excess baggage in a shake-up likely to determine whether CEO Marissa Mayer can save her own job.

The long-anticipated purge, announced Tuesday, will jettison about 15 percent of Yahoo's workforce along with an assortment of services that Mayer decided aren't worth the time and money that the Internet company has been putting into them.

The cost-cutting is designed to save about $400 million annually to help offset a steep decline in net revenue this year.

Mayer also hopes to sell some of Yahoo's patents, real estate and other holdings for $1 billion to $3 billion.

Read more: http://hosted.ap.org/dynamic/stories/U/US_YAHOO_SHAKE_UP?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2016-02-02-18-30-32

[forest444]

1. Here's to the day news like these would read thus:

Yahoo To Cut CEO As Workers Try To Save 1,700 Jobs.

[spiderpig]

2. Here, here!

[forest444]

4. Thanks!

One can only hope - but electing a true President, rather than just another butler, would be a good start.

[Igel]

8. That would net each of the workers a salary of 13,228 for last year.

Of course, some of that would have been in stock that couldn't be traded for a while, so their pay would be deferred.

Some would have been in retirement funds that they couldn't touch.

And over half would have been in stock options that would come due in several years.

So the average pay per employee before FICA and Medicaid and any taxes would have been considerably less than $4,000 for the year. (Hey, at least they'd qualify for one heck of a health-care subsidy. But then we'd be complaining that the US government was subsidizing Yahoo by subsidizing its workers.)

That, and somebody would still have to run the place and deal with the board.

[forest444]

9. Ridding the company of its profligate CEO would be in conjunction with other cost reductions

not to the exclusion of said cuts.

[hedda_foil]

3. Ya know, Marissa, when you lean forward too far, you're likely to fall on your face.

Honestly, I detest her type of hectoring woman who tells less fortunate women how to be.wildly successful just like her.

[houston16revival]

5. Yahoo is in the same business as Twitter

Advertising. That's how they source their revenues.

People are ignoring advertising. Tired of corporate control.

Yahoo's email has been revised and revised. Does it work well?

Would you go to Yahoo Finance for investment advice?

There was a time Yahoo could have bought eBay by issuing shares. Missed the
opportunity.

When Yahoo mail fails, I don't know what I'll do.

Wish we could download a giant archive. Might even pay for it.

[onehandle]

6. Makes me so sad. Marissa Mayer was an innovator and one of the non-corrupt early Googlers.

She left when they went to the dark side. I hoped she could renew Yahoo and give the biggest data spy in the world a run for their money.

But alas...

[SansACause]

7. Yahoo still exists?

I thought it was something like Netscape or Pets.com.

[Stand and Fight]

12. AOL is another one... It still exists. Somehow. lol

[Sen. Walter Sobchak]

10. Sell Flickr to Barry Diller and then just admit you're a hedge fund

There is no way forward here.

[Stand and Fight]

11. At least the cuts are happening overseas first...

I guess that's a positive thing?

[erpowers]

13. CEO Not That Important?

Does this prove that CEOs are not as important as once thought? Does this prove that some companies are so good that a person just short of an idiot could run them and they would make money while some companies are so bad that the smartest person in the country could run them and they would still lose money. I maybe be wrong and maybe Marissa Mayer is earning every cent of her multimillion dollar salary, but this makes me think Mayer was not worth her $28-$42 million per year salary.