The financial situation at the Internet company is becoming "increasingly dire," Recode said, citing pages from the "book" of disclosure documents that Yahoo bankers have given out to prospective buyers.
Yahoo also expects its employee count to fall to about 9,000 at the end of 2016, from 10,500 in 2015, but stock-based compensation remains steady, the technology news website said.
The company expects 2016 revenue, backing out traffic acquisition costs, of $3.5 billion in 2016 and earnings before depreciation, taxes and amortization of $750 million, Re/code said.
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