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Yahoo Under Shareholder Pressure To Cut Costs And Sell Internet Division
- The Telegraph, Tuesday, December 15, 2015 6:27 AM
SpringOwl, a New York hedge fund, has sent a 99-page presentation to Yahoo's board that calls for the company to lay off 9,000 of its 10,700 workers and eliminate free food for employees to help save $2bn annually. Canyon Capital, a Los Angeles investment firm, wants Yahoo to sell its internet business instead of spinning it off. Yahoo has warned the spinoff could take more than a year to complete, a time frame that Canyon Capital called "simply unacceptable."
