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
- EXCLUSIVE - Apple iPhone 6 screen snag leaves supply chain scrambling
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- UPDATE 3-Dynegy cuts exposure to wholesale power with deals worth $6.25 bln
- Arvind Subramanian likely to be chief econ adviser
- Researchers reverse autism symptoms in mice by paring extra synapses
More than 70 percent of Indians are satisfied with the leadership of Prime Minister Narendra Modi since he took office nearly three months ago, an opinion poll showed, seeing in him the best hope to put the economy back on track. Full Article
India to hike iron ore royalty, miners may struggle to pass on extra cost. Full Article