SAN FRANCISCO: Yahoo CEO Scott Thompson plans to tell the struggling Internet company's employees more about his turnaround strategy next week.
Thompson also sought to boost sagging employee morale in a staff memo Thursday. It came a day after Yahoo Inc. began laying off 2,000 workers in the biggest purge in the company's 17-year history.
The 14 percent cut in Yahoo's workforce marks Thompson's most dramatic move since he was hired three months ago. Yahoo Inc., which is based in Sunnyvale, California, lured him away from eBay's PayPal payment service.
Although he didn't provide
specifics, Thompson hinted that he plans to streamline Yahoo's
management team to enable the company to keep pace with Internet search
leader Google Inc. and social networking leader Facebook Inc. in the race to sell online advertising.
"There's
a lot to do, and that's why I can't stress enough that we all need to
focus on getting stuff done," Thompson wrote. "Getting stuff done is
short hand for eliminating bureaucracy and barriers so we can all
innovate as fast as our customers and the industry require."
After
meeting next week with employees, Thompson has promised to share more
details about his plans with Wall Street on April 17, when the company
is scheduled to release its first-quarter earnings report.
As
has been the case through most of the past four years, the results are
expected to show a decline in Yahoo's revenue even as advertising
continues shifting to the Internet.
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