SAN FRANCISCO — Corporate America’s most famous working mother has banned her employees from working at home. Now the backlash is threatening to overshadow the progress she has made turning around Yahoo Inc.
Marissa Mayer, one of only a handful of women leading Fortune 500 companies, has become the talk of Twitter and Silicon Valley for her controversial move to end telecommuting at the struggling Internet pioneer.
From the start, Mayer, who at 37 is one of Silicon Valley’s most notorious workaholics, was not the role model that some working moms were hoping for. The former Google Inc. executive stirred up controversy by taking the demanding top job at Yahoo when she was five months pregnant and then taking only two weeks of maternity leave. Mayer built a nursery next to her office at her own expense to be closer to her infant son and work even longer hours.
Now working moms are in an uproar because they believe that Mayer is setting them back by taking away their flexible working arrangements. Many view telecommuting as the only way time-crunched women can care for young children and advance their careers without the pay, privilege or perks that come with being the chief executive of a Fortune 500 company.
Editor’s note: Betcha nobody is yelling “yahoo” over this news!
(Reuters) – Yahoo Inc will lay off 2,000 people, or 14 percent of its workforce, in its deepest round of job cuts in years as new Chief Executive Scott Thompson tries to jumpstart growth with a leaner, more agile company while saving hundreds of millions of dollars.
Wall Street’s reaction was lukewarm, after two previous Yahoo CEOs failed to find an answer to rivals like Web-search leader Google and the Facebook social-networking site.
Sunnyvale, California-based Yahoo, which ended 2011 with some 14,000 employees, said it would save $375 million annually from the cuts and incur a pre-tax cash charge in the second quarter of $125 million to $145 million.