Yahoo! to hold an organisation reshuffle meeting next Tuesday?

6 Apr 2012

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Yahoo! CEO Scott Thompson addresses Yahoo! employees at Sunnyvale, California, HQ. Image from Wikimedia Commons

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Yahoo! CEO Scott Thompson is apparently planning to brief staff next Tuesday about his long-term vision for the ailing internet company, Reuters reports.

Reuters reported that it had got its hands on a memo that was circulated to Yahoo! employees this week.

The apparent move from Thompson to brief staff about how Yahoo!’s future comes in the wake of this week’s news that the internet company is to make up to 2,000 redundancies – up to 14pc of its workforce – globally.

"Our goal is to get back to our core purpose – putting our users and advertisers first – and we are moving aggressively to achieve that goal," said Thompson in his statement.

Yahoo!, which is in a patents battle with Facebook, said it could save US$375m on an annualised basis through the layoffs and indicated that it expected severance costs to be between US$125m-US$145m.

As for the restructuring meeting that’s supposedly happening next Tuesday, Reuters reported that a source at Yahoo! informed it that Thompson would be outlining his long-term strategy and vision for the company.

Reuters reported that the likely focal points of next Tuesday’s meeting would circle around the three main businesses Thompson cited in a memo to Yahoo! staff this week. These are ‘core media and communications’, ‘platforms’ and ‘data’, it reported.

The first-quarter financial results from Yahoo! are expected on 17 April.

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Carmel was a long-time reporter with Siliconrepublic.com

editorial@siliconrepublic.com