socialmedian: Yahoo Earnings Call: Bartz Disputes Notion Of A Distracted Company

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Yahoo Earnings Call: Bartz Disputes Notion Of A Distracted Company

Source: paidContent.org

Jan 27, 2009

Summary

Work in progress Eight days into her new job, Yahoo (NSDQ: YHOO) CEO Carol Bartz is facing analysts, investors and press after a disappointing Q4 earnings report. First order of business: assure them that the company she found isn't the one she expected—in a good way. From the press reports, Bartz said in her introductory remarks, as an outsider she expected a completely distracted company. That wasn't what she found. But, she quickly admitted, Yahoo needs to sharpen its strategic focus, hasten the pace of decision making and streamline the business.

She also turned the call right over to CFO Blake Jorgensen, who said the company ended the year with roughly1,600 fewer employees for expected annual cost savings of more than $400 million. But, as detailed in an SEC filing Yahoo made as the session began, Jorgensen explained that Yahoo took a $108 million restructuring charge for the Q4 changes.

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