Things are getting pretty serious at the troubled internet company, Yahoo Inc. If CEO Marissa Mayer’s comment “You’re not getting fired this week — feel better now?” is not an ominous sign of the impending gloom at the once an internet and media Silicon Valley giant, very little else is. The unwitting comment came in at an internal company session called the Friday FYI. Even though some employees laughed at the seemingly harmless quip at the meeting, apparently the employees weren’t amused. “Indeed, some in the audience laughed precisely because “she wasn’t trying to be funny. “She was trying to make us believe it.”, a source told NYpost.
Yahoo is going through troubled times and more lay-offs are imminent. Continuously dwindling profits in its core business of buying and selling display ads and a rapidly losing market share to rivals Google, Microsoft and now Facebook are largely the reasons for Yahoo’s gradual downfall.
Mayer, a Google import, was hired a couple of years ago to steer the company back to relevance and cement its place back in the internet hall of fame. However, things have only got from bad to worse during Mayer’s reign, insiders report.
Mayer is under fire in the press and on Wall Street, with the general consensus that its time for yet another CEO change at the floundering Internet company., which has had six CEOs since 2007.
While Yahoo’s share in the media business continues to stumble, recent acquisitions Flickr and Tumblr, have also failed to do much to help the company.
Though the Yahoo employees may not be getting fired this week as Mayer has “reassured”, they have probably started looking out for jobs as we speak.