Yahoo to cut 1,700 workers as CEO tries to save her own job

Yahoo
FILE - This Jan. 14, 2015 photo shows a sign outside Yahoo's headquarters in Sunnyvale, Calif. Yahoo is trying to phase out passwords with an update to its mobile application for its email service. The renovated app released Thursday, Oct. 15, 2015 for iPhones and Android devices will include an option called "Account Key" that allows people to sign into their email accounts by pressing on a notification sent to their smartphones instead of typing in a password.(AP Photo/Marcio Jose Sanchez)

SAN FRANCISCO (AP) – Yahoo is laying off about 1,700 employees and shedding some of its excess baggage in a shake-up likely to determine whether CEO Marissa Mayer can save her own job.

The long-anticipated purge announced Tuesday will jettison about 15 percent of Yahoo’s workforce along with an assortment of services that Mayer decided aren’t worth the time and money that the Internet company has been putting into them.

The overhaul probably represents Mayer’s last chance to persuade restless shareholders she has figured out how to revive Yahoo’s growth after 3 1/2 years of futility.

Yahoo’s revenue has been shrinking through most of Mayer’s reign, even though she has spent more than $3 billion on acquisitions and introducing features designed to bring in more traffic and sell more advertising.

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