Yahoo plans Tuesday reorganization meeting-source

SAN FRANCISCO Fri Apr 6, 2012 4:43am IST

The Yahoo! offices are pictured in Santa Monica, California April 18, 2011. REUTERS/Mario Anzuoni/Files

The Yahoo! offices are pictured in Santa Monica, California April 18, 2011.

Credit: Reuters/Mario Anzuoni/Files

Related Topics

Stocks

   

SAN FRANCISCO (Reuters) - Yahoo Inc (YHOO.O) CEO Scott Thompson will outline his long-term strategy and vision for the struggling Internet company at an all-hands meeting for staff next Tuesday, a source at the company told Reuters, days after Thompson announced the deepest round of job cuts in years.

The company, once a dominant Internet media and search powerhouse which has seen its growth eclipsed by Google Inc (GOOG.O) and Facebook, announced this week it would lay off 2,000 people and set in motion a broad restructuring. It did not provide details of that plan.

The reorganization meeting on Tuesday is likely to focus around the three main businesses that Thompson cited in a memo to staffers on Wednesday: "core media and communications," "platforms" and "data."

Thompson told staffers in a company-wide memo obtained by Reuters on Thursday that he and other Yahoo managers would provide information about "comprehensive plans" for Yahoo's future during next week's meeting.

"The immediate next step for all of us is to get clear on our goals, and then take action and move," he said in the memo.

One key question involves how the product and technology group, headed by Blake Irving, fits into the three new pillars of the company.

According to the source, Irving has been out of the office on vacation this week, with the future of his team and his role uncertain.

Wednesday's layoffs slashed 14 percent of Yahoo's headcount and cut across all of Yahoo's organizations, including marketing, research and product groups.

The fate of several Yahoo businesses remains uncertain, particularly the search business, according to the source, who wished to remain anonymous because the comments involved company matters. While Yahoo struck a deal with Microsoft Corp (MSFT.O) in 2009 to outsource much of its search operations, Yahoo still employs roughly 1,800 staffers for search, the executive said.

Yahoo declined to comment.

(Reporting By Alexei Oreskovic; editing by Andre Grenon, Bernard Orr and Matthew Lewis)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

India-Nepal Ties

REUTERS SHOWCASE

Wipro Reaps Profit

Wipro Reaps Profit

Wipro Q1 profit up 30 pct on new contract wins   Full Article 

Monsoon Revives

Monsoon Revives

Monsoon revival keeps rain above average   Full Article 

Tackling Food Prices

Tackling Food Prices

India to free up extra 10 million tonne wheat in open market  Full Article 

Facebook Results

Facebook Results

Facebook beats Wall Street targets, stock hits record high  Full Article 

Struggling Economies

Struggling Economies

Asian economies to struggle on weak export demand - Reuters poll  Full Article 

Mining Roadblock

Mining Roadblock

Coal India's plans for 20 mines hit by land, environment delays  Full Article 

Power Jolt

Power Jolt

UAE's TAQA pulls out of India power plant deal with Jaiprakash  Full Article 

Factory Sector

Factory Sector

China July HSBC flash PMI at 18-month high of 52.0   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage