Yahoo plans Tuesday reorganization meeting-source
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)
- Tweet this
- Share this
- Digg this
- Newtown massacre shooter indulged dark obsessions online, report says
- Canadian vets plan to join Kurdish fight against Islamic State
- Pakistani family sentenced to death over "honour killing" outside court
- UPDATE 5-Sold-out Cosby show goes ahead amid sex assault claims
- CANADA FX DEBT-C$ hits 3-week high on forecast-beating CPI data, higher oil
Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target without cuts. Article