Yahoo layoffs began today, according to numerous sources, with conference rooms across all its facilities reserved to tell employees that they have been fired.
Sources said the cuts are deep and widespread, up to 15 percent of the staff of the Silicon Valley Internet giant that has not been able to gain ground under its latest CEO, Marissa Mayer. That's more than 1,500 jobs, with cuts coming in places like media and sales. Yahoo's search efforts have been largely spared the ax, said sources, since it is an area that Mayer thinks is poised for growth.
She has a plethora of outside advisers helping her make the layoff decisions, especially McKinsey & Co. Others — such as Goldman Sachs and Qatalyst Partners — are helping the company wade through a number of other thorny issues, including the separation of its stake in China's Alibaba Group.