Yahoo CEO Marissa Mayer dreamed of a media business that combined the best of both worlds: an in-house editorial staff that would publish pieces that command attention, and a vibrant social network whose users would create content themselves at no cost to the company.<br />Together, she hoped, they would revive the flagging tech giant’s share of worldwide advertising revenues.<br />Yet so far, neither has.<br />As Yahoo announced layoffs of nearly 1,600 global employees on Tuesday, the Sunnyvale firm revealed that it would cut editorial products a sign its attempt at developing a news and lifestyle brand has not paid off.<br />And in a closely watched earnings call, Mayer avoided talking about the financial performance of Tumblr, Yahoo’s foray into social networking, which came up short of its revenue projection of $100 million.<br />Mayer still believes in Yahoo’s future as a content hub both for editorial pieces and user-generated posts.
