tl;dr: for sale; also see Mayer Defends Her Turnaround, Even as Board Puts Company on Block (Re/code)
"Whether it is sold or survives, Yahoo is getting smaller. It said on Tuesday it would lay off about 15 percent of its 11,000 employees. By the end of the cuts, the company said its work force would be about 42 percent smaller than it was in 2012.Marissa Mayer Sets Yahoo on Streamlined Course - The New York Times
In addition to being smaller, Ms. Mayer said, the company would be simpler. Yahoo will shed assets, cut expenses and focus on the areas of the company that are growing. When she arrived at Yahoo after working as an executive at Google, she said, “We were sitting on $5 billion in deteriorating revenue with no clear path to growth.”
In essence, she said that Yahoo was no longer deteriorating and was poised for better times — not in 2016, perhaps, but 2017."