Most of Yahoo’s employees have lost faith in the company

Yahoo has definitely seen better days, and though many people had faith that Marissa Mayer would bring those better days back when she became the company’s CEO back in 2012, but that faith has largely faded away. The New York Times recently spoke with dozens of current and former Yahoo employees regarding what things are like within the company, and most of them agree that Yahoo is done for. Not only are employees jumping ship left and right, Mayer is planning some massive layoffs in an effort to cut costs, though many people within the company would much rather she be the one to get fired. 

Marissa Mayer, the glamorous, geeky Google executive hired to turn around Yahoo in 2012, used to inspire hope in Yahoo’s work force just by visiting the cafeteria for ice cream and mingling. Now, morale has sunk so low that some employees refer to Ms. Mayer, Yahoo’s chief executive, as “Evita” — an allusion to Eva Peron, the former first lady of Argentina whose outsize ego and climb to power and wealth were chronicled in the musical of that name. Ms. Mayer is about to make herself even less popular with Yahoo’s nearly 11,000 employees. Faced with the failure of her efforts to reignite growth at the 22-year-old Silicon Valley company, she is now turning to the opposite strategy: cutting. As some investors press Yahoo to fire her, Ms. Mayer is crafting a last-ditch plan to streamline the company — including significant layoffs — that is expected to be announced before month’s end. While many Yahoo workers are keeping their heads down, just doing their jobs, others have lost faith in Ms. Mayer’s leadership, according to conversations with more than 15 current and former employees from all levels of the company, most of whom spoke on the condition of anonymity because of continuing ties to Yahoo and its strict policy against leaks.