Another bites the Dust
Yahoo can't seem to figure out how to turn itself around. Today it announced a new "aggressive strategic plan" to pare itself down to focus on its strength in its Q4 earnings report. That plan involves laying off 15 percent of its workforce and closing five international offices.
The offices closing will be in Dubai, Mexico City, Buenos Aires, Madrid and Milan. The layoffs will mean the company will have only 9,000 employees by the end of 2016. The overall goal is to reduce operating costs by $400 million in the coming year.
The company brought in $1.27 billion in revenue during the quarter. The company had a huge writedown of $4.5 billion. Ouch.
In a statement CEO Marissa Mayer said, "today, we're announcing a strategic plan that we strongly believe will enable us to accelerate Yahoo's transformation. This is a strong plan calling for bold shifts in products and in resources."
During the earnings' livestream Mayer noted that when she took over, the company was full of legacy businesses and a declining revenue stream that had to be shuttered.
She noted that the Mavens (mobile, video, native and social) sector was a revenue source that had an "incredibly fast growth line of business."
Mayer also said that it needs to be engage its users and will focus on its top businesses, Search, Mail and Tumblr. It will also be even more bullish on mobile with upcoming changes to the sports and finance apps and the recent change to the search app.
Comments from well known Tech Site
Yahoo needs a real CEO to restructure. Period. Marissa Meyers was a 'fun' experiment and yes, she was essential to Google, and yes, Yahoo got off on the fact that they poached her from Google, and it raised their confidence level that they were at Google playing level, but they weren't, they aren't and they sure as sh*t won't be anytime in the foreseeable future.
There's this - wrong - idea that if you're a big shot from a successful company that automatically implies you had something to do with the success.
A lot of execs sit around while others make things happen.
She is a clear case of someone who has shown when it comes down to real executive leadership, getting paid millions to turn around a company, she failed.Big time.
Oh, but I'm sure another startup will gladly pay her more millions. I'll never understand why companies' memories are so short when it comes to loser execs.
Many heads are better than one
Further Reading
easyfoodstore.com Airline founder opens mega discount store
European Union reform , primeminster David Cameron
Mayer also said that it needs to be engage its users and will focus on its top businesses, Search, Mail and Tumblr. It will also be even more bullish on mobile with upcoming changes to the sports and finance apps and the recent change to the search app.
Comments from well known Tech Site
Yahoo needs a real CEO to restructure. Period. Marissa Meyers was a 'fun' experiment and yes, she was essential to Google, and yes, Yahoo got off on the fact that they poached her from Google, and it raised their confidence level that they were at Google playing level, but they weren't, they aren't and they sure as sh*t won't be anytime in the foreseeable future.
There's this - wrong - idea that if you're a big shot from a successful company that automatically implies you had something to do with the success.
A lot of execs sit around while others make things happen.
She is a clear case of someone who has shown when it comes down to real executive leadership, getting paid millions to turn around a company, she failed.Big time.
Oh, but I'm sure another startup will gladly pay her more millions. I'll never understand why companies' memories are so short when it comes to loser execs.
Many heads are better than one
The UK workforce is comprised of about 23 million people, approximately 10 million are available to hire at a level of £27,000 / $54,000 (realistically, without the London weighting, it's around 20>21 K) but the pool of people who are available, competent and experienced enough to take on a FTSE 100 CEO role is much smaller. As a start up most of the team will work almost 24 / 7 driven by the end game , to get a share of the profits ,albeit through initial public offering in a few years time, or a yearly bonus, which I might add is always performance based.
So to the many legions of start ups, venturing out ( pun intended ) would you set a salary of £500 K / $1M for a CEO yet to prove her/him self ? of course not;Though it's happening out there, irrespective of past form, when you set up a new start up esp tech ,the rules are simple economical, rent, furniture and salaries for all etc etc.
Tech companies can nose dive, within months, and when there are so many, who may or may not be of CEO calibre. who for the fraction of the cost, who are willing and able, with all hands on deck.
You get more bang for your buck, from those who are hungry, why? the desire to succeed, is a far greater and powerful tool,in contrast to a CEO whose been there and worn the hat;more importantly whose drive is muted, the large carrot on the short stick, is already, sitting in their bank account.
Can we pay a competitive rate, to attract the best CEOs for our top UK businesses? Yes for an already profitable FTSE / Nasdaq company,why not if performance has been delivered to the company in question,
Remember tech years, are like dog years, with respect ,you can't teach an old dog, new tricks,technology grows very fast. As a start up, the money invested ,raised, should not be seen as a gravy train, by all and sundry, who think they can jump aboard ,because of what they did 10 years ago.What's worse is trying to justify, that running a tech company, is like desktop publishing ( pun intended :).When a CEO has been in under-performing for public listed business close to 2 years.
Alarm bells should be ringing for board members and stock investors to make a change.
Allowing the hemorrhage to continue, will only make matters worse down the line.
It always amazes me that in today's workforce ,their are so many bright talented people willing to work 100 x harder, for a fraction of the cost of CEO take home pay .
And yet their board and investors of these public listed companies fail to comprehend this.
Alarm bells should be ringing for board members and stock investors to make a change.
Allowing the hemorrhage to continue, will only make matters worse down the line.
It always amazes me that in today's workforce ,their are so many bright talented people willing to work 100 x harder, for a fraction of the cost of CEO take home pay .
And yet their board and investors of these public listed companies fail to comprehend this.
I have seen. how,a ceo was bought into run a portal, I worked for, from a well known "software" company,within 8 months the company floundered, sold on. They would always buy pizza and jot a way on a board regurgitating strategy, from "the old workplace"; a nice person, but not, the foggiest, what their role entailed.Even a GOP style debate to find Yahoo next CEO, would do wonders PR wise .
The corporate world their is no sympathy , adding personal background history to win hearts of minds of an investor driven business , is contrary to what they want to see and not hear about.
There is also a huge talent pool for boards and companies scouting for talented individuals.
The Boardlist is a marketplace for female board talent. Designated endorsers, who are mostly tech investors and executives, recommend women who are qualified to serve on corporate boards; startups can cull the database to find candidates. “Most startups have independent board seats, and too often those board seats go empty because founders don’t get around to filling them,” says Cassidy, who also is CEO of video-shopping startup Joyus. She wants to make it easy for founders to fill those seats by selecting from more than 1,000 qualified female candidates.
There are now 200 endorsers drawn from companies like Airbnb, Lyftand eBay as well as venture outfits like Greylock Partners and Accel Partners.
The corporate world their is no sympathy , adding personal background history to win hearts of minds of an investor driven business , is contrary to what they want to see and not hear about.
There is also a huge talent pool for boards and companies scouting for talented individuals.
The Boardlist is a marketplace for female board talent. Designated endorsers, who are mostly tech investors and executives, recommend women who are qualified to serve on corporate boards; startups can cull the database to find candidates. “Most startups have independent board seats, and too often those board seats go empty because founders don’t get around to filling them,” says Cassidy, who also is CEO of video-shopping startup Joyus. She wants to make it easy for founders to fill those seats by selecting from more than 1,000 qualified female candidates.
There are now 200 endorsers drawn from companies like Airbnb, Lyftand eBay as well as venture outfits like Greylock Partners and Accel Partners.
Further Reading
easyfoodstore.com Airline founder opens mega discount store
European Union reform , primeminster David Cameron
House prices rise and sales grow as Scotland's house market enters "robust" phase
£24m Westminster Mansion Sold Online to save High Street Estate Agent Fees
Alison Platt CEO CountryWide PLC High Street Estate Agent > Debunking the Myth of Corporate PR
Boost for housing as government puts hundreds of acres of land up for sale
Class War protest outside Kennington Road London High Street Estate Agents Reed and Rains
Airbnb Sharing Economy Marks 4M UK Guests by Hosting Business Secretary
PURPLEBRICKS [LON:PURP] The Telegraph Questor share tip:
Comparethemarket ready set go for Large IPO
Purplebricks.com interim results, good start, launches in house data sales, online market share continues
what next for zoopla realtor or zillow
What do online sales mean for Tesco and CountryWide PLC Retail 2016 ?
1 in 5 home insurance claims rejected and UK flooding insurance statistics 2015
Right-to-buy rush pushes home loans to seven-year high: Loans totaling £220bn were handed out in 2015
Alex Chesterman CEO of Zoopla , Crude Oil price and the Markets, Stephen Morana CFO departs ZPG
Drug Lord Escobar’s Miami Home Demolished , mansion property of the devil dissapearing
How BlockChain may solve fraud in Real Estate property industry #CRE
Private palaces: Russia moves to hide property data
Iconic Building Lincoln House [Former Maharajah Palace and US embassy ] sold to business tycoon $113m
Spectre of facing Spanish fraud trial: Sean Connery's wife accused of 5.5 million pound property tax swindle
Wales hotel that was the scene of a quadruple murder has sold for £150,000
zoopla.co.uk #ZPLA comes out fighting bucking the FTSE 250 Market
Investors eye growing number of online UK estate agents
Government urged to use Bitcoin-style digital ledgers, could help issue land registry property title deeds
Royal Bank of Scotland to settle on US mortgages within Weeks
Birmingham, Berlin and Hamburg are top of the property market as the capital is overtaken by cities such as Budapest and Istanbul
Bank of England's Carney says no timetable for rate rise , interest rates , buy-to-let
Euro Zone banking Oil price falls Iran sanctions lifted and Property Industry and Portals
Investment fund behind purplebricks.com acquire Property Developer operating in Ibiza
Competition and Markets Authority 2016 will be a very interesting year for CMA in all facets of competition within the property industry
Royal Bank of Scotland to settle on US mortgages within Weeks
The snow balling woes of CountryWide PLC high street estate agency
Prime Minister David Cameron pledges to transform sink estates @onthemarketblog
How BlockChain may solve fraud in Real Estate property industry
UK house prices rose 9.5% in 2015, says Halifax
More buy-to-let landlords searching for mortgages on cheaper properties + housing market shows no sign of slowing down winter months
Aldi Lidl shoppers won't jump ship to Tesco Ground Hog Day / Tesco wants its money back
buying letting renting property and homes, will never be the same again
New head of development joins leading online estate agency easy property + launching #CRE auctions
Bank of England volatility has extinguished any prospect of a rate rise in the near-future.on track for seven years of record low interest rates as global markets turmoil
Why UK Property Online Real Estate Agents really do have billon pound start up potential Says GOOGLE
Bowie predicted the internet of things which can be applied to property industry today
2016 year of Tech start Future is VERY BRIGHT from London to New York
Birmingham, Berlin and Hamburg are top of the property market as the capital is overtaken by cities such as Budapest and Istanbul
more Countrywide plc disruption as chairman leaves largest UK high street estate agency
Countrywide PLC UKs largest Real Estate
Agency - Alison Platt CEO Let The Battle Commence Online
UK's biggest estate agent Countrywide sees shares plunge 12% as shortage of properties for sale hits profits
why wallpapering over the cracks won't help, Country Wide PLC
countrywide PLC sees a direct threat from online real estate agents like for like
£24m Westminster Mansion Sold Online to save High Street Estate Agent Fees
Alison Platt CEO CountryWide PLC High Street Estate Agent > Debunking the Myth of Corporate PR
Boost for housing as government puts hundreds of acres of land up for sale
Class War protest outside Kennington Road London High Street Estate Agents Reed and Rains
Airbnb Sharing Economy Marks 4M UK Guests by Hosting Business Secretary
PURPLEBRICKS [LON:PURP] The Telegraph Questor share tip:
Comparethemarket ready set go for Large IPO
Purplebricks.com interim results, good start, launches in house data sales, online market share continues
what next for zoopla realtor or zillow
What do online sales mean for Tesco and CountryWide PLC Retail 2016 ?
1 in 5 home insurance claims rejected and UK flooding insurance statistics 2015
Right-to-buy rush pushes home loans to seven-year high: Loans totaling £220bn were handed out in 2015
Alex Chesterman CEO of Zoopla , Crude Oil price and the Markets, Stephen Morana CFO departs ZPG
Drug Lord Escobar’s Miami Home Demolished , mansion property of the devil dissapearing
How BlockChain may solve fraud in Real Estate property industry #CRE
Private palaces: Russia moves to hide property data
Iconic Building Lincoln House [Former Maharajah Palace and US embassy ] sold to business tycoon $113m
Spectre of facing Spanish fraud trial: Sean Connery's wife accused of 5.5 million pound property tax swindle
Wales hotel that was the scene of a quadruple murder has sold for £150,000
zoopla.co.uk #ZPLA comes out fighting bucking the FTSE 250 Market
Investors eye growing number of online UK estate agents
Government urged to use Bitcoin-style digital ledgers, could help issue land registry property title deeds
Royal Bank of Scotland to settle on US mortgages within Weeks
Birmingham, Berlin and Hamburg are top of the property market as the capital is overtaken by cities such as Budapest and Istanbul
Bank of England's Carney says no timetable for rate rise , interest rates , buy-to-let
Euro Zone banking Oil price falls Iran sanctions lifted and Property Industry and Portals
Investment fund behind purplebricks.com acquire Property Developer operating in Ibiza
Competition and Markets Authority 2016 will be a very interesting year for CMA in all facets of competition within the property industry
Royal Bank of Scotland to settle on US mortgages within Weeks
The snow balling woes of CountryWide PLC high street estate agency
Prime Minister David Cameron pledges to transform sink estates @onthemarketblog
How BlockChain may solve fraud in Real Estate property industry
UK house prices rose 9.5% in 2015, says Halifax
More buy-to-let landlords searching for mortgages on cheaper properties + housing market shows no sign of slowing down winter months
Aldi Lidl shoppers won't jump ship to Tesco Ground Hog Day / Tesco wants its money back
buying letting renting property and homes, will never be the same again
New head of development joins leading online estate agency easy property + launching #CRE auctions
Bank of England volatility has extinguished any prospect of a rate rise in the near-future.on track for seven years of record low interest rates as global markets turmoil
Why UK Property Online Real Estate Agents really do have billon pound start up potential Says GOOGLE
Bowie predicted the internet of things which can be applied to property industry today
2016 year of Tech start Future is VERY BRIGHT from London to New York
Birmingham, Berlin and Hamburg are top of the property market as the capital is overtaken by cities such as Budapest and Istanbul
more Countrywide plc disruption as chairman leaves largest UK high street estate agency
Countrywide PLC UKs largest Real Estate
Agency - Alison Platt CEO Let The Battle Commence Online
UK's biggest estate agent Countrywide sees shares plunge 12% as shortage of properties for sale hits profits
why wallpapering over the cracks won't help, Country Wide PLC
countrywide PLC sees a direct threat from online real estate agents like for like
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