Yahoo (YHOO) stock spiked Friday following a Bloomberg report that the Web portal is considering an outright sale of its main Internet business. Yahoo hasn’t made any final decisions and hasn’t hired a bank to run an official process or contacted potential buyers, Bloomberg said. The shift in thinking comes as the company’s leaders decide they need a new plan in light of an expected proxy fight by activist investor Starboard Value, according to
Yahoo (YHOO) is planning to cut at least 10% of its workforce as part of a reorganization plan designed to boost business, according to a report Thursday from Business Insider. The cuts are expected to land throughout the company and pare Yahoo’s headcount by more than a thousand employees, with the reductions possibly starting as early as this month, according to the report. Yahoo’s media business, European operations and platforms-technology
Yahoo (YHOO) CEO Marissa Mayer is under intensified pressure from major investor Starboard Value, which on Wednesday sent a second letter to the Web portal’s leadership urging the exit of Mayer and some directors and the spinoff of Yahoo’s core search business. Yahoo’s “declining revenues, increasing costs and plummeting profits” prove “that significant changes are desperately needed,” said the letter from Jeffrey Smith, Starboard Value CEO and