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Yahoo plans reorganisation meeting for next week

Yahoo plans reorganisation meeting for next week

By Reuters | Updated: 5 June 2012 16:13 IST

Highlights

CEO Scott Thompson will outline his long-term strategy for the struggling Internet company at a meeting next Tuesday.

Yahoo Inc 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 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 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.

Copyright Thomson Reuters 2012

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Further reading: facebook, google, scott thompson, yahoo, yahoo layoffs

Yahoo plans reorganisation meeting for next week

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