Yahoo! (YHOO) Stock Slumps, Reportedly Hires McKinsey to Spark Turnaround
- 8 years ago
Yahoo!
stock is declining by 3.10% to $33.14 in late morning trading on Monday, after reportedly hiring consulting firm McKinsey & Co. to help revive the company and reorganize its core business.
As part of CEO Marissa Mayer's years-long turnaround push, McKinsey & Co. will advise Yahoo!
on which units to close, sell and further invest in, sources told Re/code.
The company's one-stop mobile search "Project Index" initiative will likely receive further resources, though it's unclear from where the resources will come.
Yahoo!
has been struggling to win ad dollars amid heightened competition from Google and Facebook, according to Reuters.
stock is declining by 3.10% to $33.14 in late morning trading on Monday, after reportedly hiring consulting firm McKinsey & Co. to help revive the company and reorganize its core business.
As part of CEO Marissa Mayer's years-long turnaround push, McKinsey & Co. will advise Yahoo!
on which units to close, sell and further invest in, sources told Re/code.
The company's one-stop mobile search "Project Index" initiative will likely receive further resources, though it's unclear from where the resources will come.
Yahoo!
has been struggling to win ad dollars amid heightened competition from Google and Facebook, according to Reuters.