Ypk1, the yeast homolog of the human serum‐ and glucocorticoid‐induced kinase (Sgk1), is a serine/threonine protein kinase known to affect various downstream processes, including plasma membrane flippase activity and sphingolipid homeostasis. The results described here indicate that Ypk1 also impinges upon the turnover of phospholipids. Pulse‐chase experiments reveal that a ypk1 mutant exhibits alterations in phospholipid deacylation and resultant glycerophosphodiester production as compared to a wild type strain. Furthermore, loss of Plb1, a plasma membrane (PM) associated phospholipase, in a ypk1 background results in further alterations in phospholipid deacylation and a growth defect. We are in the process of examining potential explanations for the altered Plb1 activity in the ypk1 mutant. Strains in which other phospholipase B‐encoding genes are deleted in combination with YPK1 do not display a growth defect, suggesting a specific functional interaction between Plb1 and Ypk1. Preliminary studies have identified model PM proteins, including the Git1 permease, whose activity is affected by loss of Ypk1 and/or Plb1. Our data is consistent with the idea that Ypk1 and Plb1 alter plasma membrane phospholipid composition, which in turn impinges upon the activity of integral plasma membrane proteins.