Marissa Mayer
Yahoo is laying off about 1,700 employees and slashing a slew of products such as Yahoo Games, Yahoo TV, digital magazines, real estate and patents. Many of these are things that embattled CEO Marissa Mayer started when she arrived at Yahoo in 2012. But today the long-feared purge began and for Mayer it is a case of make money or get out. The cost-cutting is designed to save about $400 million annually against a steep decline in net revenue this fiscal year. Even that may not be enough. The Internet service will pull back internationally and ponder the sale of all the company’s Internet operations (including Yahoo mail). Analysts have speculated that Verizon, AT&T and Comcast might be interested in buying Yahoo’s main business, despite years of deterioration.
