In recent days, Yahoo investors have been calling for a new plan and new leadership to restore the value of the company. Some argue for Yahoo to sell its core businesses as quickly as possible. Others are trying to build support to oust CEO Marissa Mayer and trim the company’s costs to absolute bare bones. All the while, Yahoo seemed ready to spin off the company's Alibaba holdings into a separate company.

But last week, Yahoo announced that it would reverse course. Instead of spinning off Alibaba, the board of directors said Yahoo would now work to spin off Yahoo’s core businesses, keeping the original company as a holding entity for the Alibaba shares. The company explained the tax climate for spinning off Alibaba holdings was simply unfavorable for investors. Mayer also noted the move would give more “transparency” to the operations of Yahoo’s core businesses, and analysts believed that implied Yahoo would be selling itself off bit by bit.

All this, however, has failed to make investors happy. The Wall Street Journal reported this weekend that Canyon Capital Advisors, an investment firm which owns 10 million shares (about 1.1 percent of Yahoo), is calling for Yahoo to begin selling all or parts of its core businesses immediately. Canyon Capital's strongly worded letter to fellow investors proclaimed that waiting another year to break Yahoo up from its Alibaba holdings is unacceptable. The investor wrote that Yahoo needs to start selling parts of its business off now or risk a further decline in the worth of the company.

Although Mayer had promised that Yahoo will provide details on the new reverse spin-off at the company’s upcoming fourth quarter financial meeting, Canyon Capital said Yahoo’s current failure to provide “any clear details in terms of analysis, process or timing” was concerning.

Canyon Capital wasn't the only investor with something to say about the current state of Yahoo. A more disruptive plan came from Eric Jackson, managing director at SpringOwl, an investment firm with a minority share in Yahoo. (Jackson says he is trying to gain support for his plan among majority investors). According to a 99-slide presentation created by SpringOwl and published by BusinessInsider, the investor wants to see Mayer replaced and 9,000 of the company’s employees laid off (that’s 75 percent of the company).

So instead of selling Yahoo’s core businesses off like Canyon Capital demands, SpringOwl suggests an operations-minded leader could turn around Yahoo’s best assets like Yahoo’s finance and sports divisions. SpringOwl also said that Yahoo must “aggressively cut costs” to get the most out of the company, including selling the company's headquarters and eliminating employee perks like free food and company iPhones. Among other suggestions, SpringOwl wants Yahoo to “Milk the PC business longer than anyone expects (ala AOL)” and “Cut non-performing businesses & internal search plans.”

One of SpringOwl’s slides says that $3 billion in recent mergers and acquisitions by Yahoo “is valued by investors at zero.” For example, the investing firm dismissed blogging platform Tumblr, which Yahoo bought for $1.1 billion in 2013. In several slides, SpringOwl went on to accuse Mayer of signing off on bad acquisitions because the founders of the acquired companies came from Google, Mayer's previous employer.

Although these investor grumblings don't necessarily guarantee a shakeup for Yahoo, they do show that the company has many competing interests to appease as it moves forward.