Yankees' Torre Won't Return as Manager

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Joe Torre is out as manager of the New York Yankees. On Thursday, he turned down a deal with a significant pay cut and little job security — one year at $5 million.

Torre is one of the most successful managers in Yankee history. He led the team to four World Series titles and 12 straight postseason appearances. But his job status became precarious when the Yankees lost in the playoffs for the third straight season.

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