|Page (1) of 1 - 04/05/12||email article||print page|
Yahoo CEO tells employees he will share more details about his strategy in meetings next week
SAN FRANCISCO (AP) ' Yahoo CEO Scott Thompson has reassured the struggling Internet company's employees about his turnaround strategy during meetings next week.
Thompson also sought to boost sagging employee morale in a the memo he sent staffers on 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.
Although he didn't provide specifics, Thompson hinted at changes that will streamline Yahoo's management team. He believes having too much bureaucracy is preventing Yahoo from innovating as quickly as necessary to keep pace with Google Inc. and Facebook Inc. in the race to sell online advertising.
Yahoo, which is based in Sunnyvale, Calif., lured Thompson away from eBay Inc. three months ago. He is Yahoo's fourth CEO in less than five years.