Signaling by TORC2. TORC2 directly phosphorylates the AGC kinase family member Ypk (Ypk1 and 2) and the PH domain containing protein Slm (Slm1 and -2). Downstream effectors include the phosphatase calcineurin, the transcription factor Crz1, and Pkc1. TORC2 controls organization of the actin cytoskeleton, endocytosis, sphingolipid biosynthesis, and stress-related transcription. The effector pathways by which TORC2 controls these processes are incompletely understood (see Distal readouts downstream of TORC2 for further details).