Selling follow-up, Yahoo intends to cut 3000 jobs-Yahoo, Yahoo, Mayer-IT information
Beijing time on July 18 morning news, Yahoo may soon usher in a new Club, but no matter who ultimately wins the bidding war, will face "cut" the daunting task: after all, Yahoo's cost structure ranks in the technology industry as a whole.
There was was an indispensable Internet portal, Yahoo was flat the past few years, due to the lines of business for too long--from search to news to a blog-led to its failure to adapt to the rapid changes in the industry. In order to make up for being competitors eroded advertising revenue, the company has spent a lot of money to conduct acquisitions and recruit talent. Now, Yahoo's average revenues per employee contribution is far less than its competitors, its core services at foreign auctions.
Parent company Google Alphabet per employee on average $ 315,948 in revenue in the first quarter, Facebook nearly $ 400,000, Yahoo is less than $ 116,000. Even the Telecom Giants are better than Yahoo: Verizon Telecom per employee on average income $ 185,637 AT&T to $ 144,319. If subtracting traffic acquisition costs (paid to the partner's revenue-sharing), Yahoo's situation will be even worse.
Retrenchment is the most simple solution. Although the company CEO Marissa Mayer (Marissa Mayer) already in the 4-year term Yahoo scaled-1/3, but analysts believe the new owner may cut 3000 jobs again. Depending on the end which company to buy Yahoo .
▲图片说明： Yahoo CEO Marissa Mayer
"We think Yahoo could be compressed a lot of cost. "Suntrust Robinson Humphrey analyst luobote·paike (Robert Peck) said he shares" hold "rating.
According to Pike research report written earlier this year, then cut 1000 jobs, per capita revenue Yahoo can par with Verizon owned by AOL. Verizon or AT&T such a strategic buyer could additional 3000 jobs due to redundancy may exist in the field of human resources and marketing . In accordance with this standard, Yahoo will become the standard and poor's 500 index at least a number of employees in the unit.
Perhaps Mayer on Monday attended the Yahoo earnings call for the last time, he will be announcing the company's second-quarter results. Analysts expect Yahoo when the sharp drop in revenue and profits will be. People familiar with the matter said, according to Yahoo Internet bidding will be held later in the day. A Yahoo spokeswoman declined to comment.
According to a summary of the data, the average analyst estimate, Yahoo's second-quarter adjusted earnings per share of $ 0.09, fell 43%. Excluded revenues paid to partners are divided into Yahoo when revenue will decline by 20%, to $ 8.3931.
Activist investor SpringOwl Asset Management, said Yahoo's employees should be reduced to 3000 people. SpringOwl managing director Eric Jackson (Erick Jackson), you can narrow your search by general business and corporate companies spending or reducing the number of overseas employees to achieve cuts of this size. He later said that Yahoo's total down to 4000-5000 employees are acceptable. By the end of the first quarter, Yahoo's workforce is 9400 .
Mayer in February this year announced layoffs of about 15%, and by closing offices and ways to enhance the efficiency of the product line. Since then, Yahoo has accumulated 1000 jobs . Yahoo CFO Ken·gaodeman (Ken Goldman) in May this year, said the cuts have a financial interest, could be the second or third quarter of this year to be fully reflected.
Even in the beginning of 15% job cuts, but compared to competitors and potential bidders, Yahoo still seem bloated.
Change is imminent
Yahoo's ownership will change soon. People familiar with the matter said, in addition to at and t and Verizon, but is expected to submit a bid on Monday also include Quicken Loans founder Dan Gilbert (Dan GIlbert) and a number of private equity companies. People familiar with the matter said, bidders for Yahoo's core assets are valued at between $ 3.75 billion to 6 billion.
Although each of the bidders has its own plan, but streamlining will be an important task for all bidders .
United States investment bank b. Riley & Co analyst samite·Xinha (Sameet Sinha) that Yahoo employees per capita revenue is one of the "key indicators", Mayer has a lot of opportunity to enhance this indicator.
During his Yahoo CEO, Mayer has been under pressure from shareholders, to curb spending. One of the most interesting is the Starboard Value: in January this year the company issued an open letter to the Yahoo Board said Mayer during Yahoo's annual operating profit increased by only about $ 500 million, the acquisition cost as much as $ 2.3 billion . But despite the risks of proxy wars, Mayer has not cut costs, she spent $ 17 million to buy the United States National Football League broadcast rights for streaming media, also spent $ 200 million acquisition of shopping site Polyvore.
The result, as a key indicator of gross margins in the first quarter of this year declined by 14%, and 53%. By contrast, Google's gross profit 62%,Facebook 84%. Means the hardware cost is extremely high compared to the telecom operators, Yahoo seems less: Verizon and AT&T first-quarter gross profit margin reached 61% and 55% respectively.
One way to improve employee efficiency is increased revenues – but Mayer was still unable to achieve this goal. 11% drop in first-quarter total revenue this year, to $ 10.91, the worst performance since the first quarter of 2004. Once you strip out revenue sharing, declined even as high as 18%.
"She led Yahoo's 4 years," Investment Bank Gabelli & Co analyst buleite·halisi (Brett Harriss) said, "it is enough to bring a CEO for a company has substantial operational changes. ”
出售后续，雅虎拟再裁员3000人 - 雅虎,Yahoo,梅耶尔 - IT资讯
北京时间7月18日上午消息，雅虎可能很快就会迎来新的东家，但无论是谁最终在竞购大战中胜出，都将面临着“开源节流”的艰巨任务：毕竟，雅虎的成本结构在整个科技行业中位居前列。
虽然曾经是不可或缺的上网门户，在雅虎过去几年却表现平平，由于业务线拉得太长——从搜索到新闻再到博客——导致其未能适应行业的快速变化。为了弥补遭到竞争对手蚕食的广告营收，该公司已经花费大量资金展开收购和招募人才。如今，雅虎平均每名员工贡献的营收已经远低于竞争对手，其核心服务也在对外拍卖。
谷歌母公司Alphabet第一季度平均每名员工创收31.5948万美元，Facebook接近40万美元，雅虎则不到11.6万美元。就连传统电信巨头的状况都好于雅虎：Verizon电信平均每名员工创收18.5637万美元，AT&T达到14.4319万美元。如果减去流量获取成本（支付给合作伙伴的营收分成），雅虎的状况还会更加糟糕。
裁员是最简单的应对方案。虽然该公司CEO玛丽莎·梅耶尔（Marissa Mayer）已经在4年任期内将雅虎规模缩小了1/3，但分析师认为，新东家有可能再裁员3000人。具体情况取决于最终是哪家公司收购雅虎。
▲图片说明：雅虎CEO玛丽莎·梅耶尔
“我们认为雅虎仍然可以压缩很多成本。”Suntrust Robinson Humphrey分析师罗伯特·派克（Robert Peck）说，他给予雅虎股票“持有”评级。
根据派克今年早些时候撰写的研究报告，再裁员1000人，雅虎的人均营收就可以与Verizon旗下的AOL持平。Verizon或AT&T这样的战略买家都有可能额外裁员3000人，原因是人力资源和营销领域的可能存在冗员问题。按照这一水平，雅虎将成为标准普尔500指数成分股中员工人数最少的一家。
本周一或许是梅耶尔最后一次出席雅虎的财报电话会议，他届时将会公布该公司第二财季业绩。分析师预计，雅虎当季营收和利润将会大幅下滑。知情人士透露，针对雅虎互联网业务的竞标，将于当天晚些时候进行。等雅虎发言人拒绝对此置评。
根据彭博社汇总的数据，分析师平均预计，雅虎第二财季调整后，每股收益为0.09美元，同比下滑43%。剔除支付给合作伙伴的营收分成，雅虎当季营收将下滑20%，至8.3931美元。
激进投资者SpringOwl Asset Management表示，应该将雅虎的员工总数压缩到3000人。SpringOwl董事总经理埃里克·杰克逊(Erick Jackson)表示，可以通过缩小搜索业务和整体的公司一般开支或者减少海外员工数量来实现这种规模的裁员。他后来表示，将雅虎员工总数压缩到4000-5000人也可以接受。截至第一季度末，雅虎员工总数为9400人。
梅耶尔今年2月宣布裁员约15%，同时通过关闭办事处和产品线的方式来加强效率。自此以后，雅虎已经累计裁员1000人。但雅虎CFO肯·高德曼(Ken Goldman)今年5月表示，此次裁员产生的财务利益，可能要到今年第二或第三财季才能完全体现出来。
即使较年初裁员15%，但与竞争对手和潜在竞购者相比，雅虎仍然显得比较臃肿。
变化在即
雅虎的所有权很快就将发生变化。知情人士表示，除了AT&T和Verizon外，其他有望在周一提交竞购要约的还包括Quicken Loans创始人丹·吉尔伯特(Dan GIlbert)和一些私募股权投资公司。知情人士透露，竞购者对雅虎核心资产的估值在37.5亿至60亿美元之间。
虽然每一个竞购者都有自己的计划，但精简机构肯定会成为所有竞购者的重要任务。
美国投资银行B. Riley & Co分析师萨米特·辛哈（Sameet Sinha）表示，雅虎的员工人均营收是一项“至关重要的指标”，梅耶尔有很多机会提升这项指标。
在任职雅虎CEO期间，梅耶尔一直面临来自股东的压力，要求其控制开支。其中最引人关注的当属Starboard Value：该公司今年1月向雅虎董事会发出公开信称，梅耶尔任职期间的雅虎年度营业利润仅增长约5亿美元，收购费用却高达23亿美元。但尽管面临代理权大战的风险，梅耶尔仍未降低开支，她斥资1700万美元买下了美国国家橄榄球联盟的流媒体转播权，还花费2亿美元收购了购物网站Polyvore。
结果，作为关键指标的毛利率在今年第一季度下降14个百分点，至53%。与之相比，谷歌的毛利率达到62%，Facebook也达到84%。即表示与硬件成本极高的电信运营商相比，雅虎也显得逊色不少：Verizon和AT&T第一财季毛利率分别达到61%和55%。
提升员工效率的方法之一就是增加营收——但梅耶尔依然未能达成这一目标。该公司今年第一财季总营收下滑11%，至10.91美元，创2004年第一季度以来的最差业绩。如果剔除营收分成，下滑幅度甚至高达18%。
“她领导了雅虎4年，”投资银行Gabelli & Co分析师布雷特·哈里斯(Brett Harriss)说，“这足够一位CEO给一家公司带来实质性的运营变化了。”