Marissa Mayer to Make Case That Yahoo Can Be Turned Around
- CEO to detail new initiatives Tuesday as proxy fight looms
- Project follows stumbles in separation of stake in Alibaba
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Marissa Mayer is gearing up for yet another turnaround plan for Yahoo! Inc. Given the company’s persistent slump, even a sweeping overhaul may do little to fend off activist investors threatening to wage a proxy war aimed at her removal.
Yahoo’s chief executive officer, who has overseen falling sales in 7 of the past 10 quarters, promised to detail a plan to cut costs and boost growth. The effort, set to be announced with quarterly earnings Tuesday, will probably include job cuts that may affect about 15 percent of the workforce and involve the closing of some units, a person with knowledge of the matter said.