Fast and forward are the keywords describing some of the details of the reorganization announced Tuesday by Yahoo CEO Scott Thompson, even as the pioneering Internet company struggles to maintain its financial equilibrium in the face of sharp competition, particularly from emerging giants in the online business environment.
The Associated Press said Wednesday that the new structure for Yahoo, revealed in a meeting at the firm’s headquarters in California by CEO Thompson, would be in place beginning May 1.
A memo obtained by AP indicated that the new structure would improve users’ experience with Yahoo, put more muscle into the company’s technology group, and work closely with advertisers worldwide.
Structurally, operations will run through three new divisions focusing on a strengthening of strategies involving users, advertisers and technology.
Saying it was time for Yahoo to move forward and fast, Thompson added the new structure calls for the company to focus on commerce, with the specialty team to concentrate on Yahoo pages devoted to automobiles, shopping, jobs, real estate, travel and personals.
Thompson stressed in the all-hands conference with employees in Sunnyvale that commerce is going to play a critical role in the company’s future growth.
Of special interest is the restructured consumer group that will contain media properties such as the Yahoo homepage, News, Finance and Entertainment products.
The details of the firm’s much-awaited restructuring comes shortly after Thompson announced just last week that Yahoo will start laying off 2,000 employees, the firm’s biggest workforce cut in its 17-year history.
Last week, Yahoo shares averaged $15.19 on Wall Street. It declined to $14.99 in yesterday’s trading.
Source: Yahoo! News