Yahoo Inc on Tuesday said it is planning to cut 15% of its workforce – roughly 1,600 jobs – and considering “strategic alternatives” for its core Internet business. According to Reuters, this is the biggest sign yet that CEO Marissa Mayer and the board of directors, might sell the sinking company in a final effort to pacify disgruntled shareholders. Yahoo’s shares have fallen 36% over the past 12 months, with its email function, online search and several websites unable to draw in users.

Mayer on Tuesday said the company’s plan includes focusing on mobile and video ad products, along with major cost-cutting, the Washington Post reported. Yahoo plans to close five of its global offices – Dubai, Mexico City, Buenos Aires, Madrid and Milan. The company also plans to sell some assets, including patents and real estates, to generate more than $1 billion (Rs 6,800 crore).

Investors are particularly unhappy with Mayer’s plan to sell of Yahoo’s $30-billion (Rs 25,000 crore) stake in e-commerce giant Alibaba and use the proceeds to turn the company around. Instead, they want the company to sell its core Internet business that has little value on its own. Companies such as telecom major Verizon have shown interest in buying Yahoo.