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

Pricing Controls

REUTERS SHOWCASE

India-China Relations

India-China Relations

India says to defend China border after standoff ahead of Xi visit.  Full Article 

Importing Iron Ore

Importing Iron Ore

As mining curbs bite, India offers market to glut-hit iron ore.  Full Article 

Lower Output

Lower Output

IOC cuts refinery output as rains hit fuel demand - source.  Full Article 

Drug Approval

Drug Approval

Epirus, Ranbaxy win India approval for arthritis drug copy.  Full Article 

Farming and Technology

Farming and Technology

Climate smart farmers get tech savvy to save India's bread basket.  Full Article 

Rajan Speaks

Rajan Speaks

RBI chief Rajan says limiting reliance on foreign debt.  Full Article 

India-Vietnam Ties

India-Vietnam Ties

India tightens Vietnam defence, oil ties ahead of China Xi's visit.  Full Article 

Debt & Equity Deal

Debt & Equity Deal

KKR to lend $175 million to GMR Infrastructure - source.  Full Article 

Preparing for IPO

Preparing for IPO

Alibaba boosts IPO as demand strengthens.  Full Article 

Reuters India Mobile

Reuters India Mobile

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