Yahoo is About to Undergo Major Restructuring
The Wall Street Journal is reporting that new Yahoo CEO Carol Bartz is about to a announce a major restructuring at the search engine company this week. Yahoo is under pressure to revamp its search engine business after failing to come to agreements with Microsoft and Google.
SAN FRANCISCO (Reuters) - Yahoo Inc Chief Executive Carol Bartz could announce a major management reorganization as early as next week, according to the blog AllThingsD.
The Wall Street Journal-affiliated blog, citing several sources inside and outside the Internet company, said the revamp would likely come on Wednesday, although it could be pushed out a week or two or rolled out in pieces.
Bartz sent a memo to employees on Friday in which she said, "Get well-rested, because next week's a biggie."
Yahoo officials declined to comment. A source at Yahoo, who was not authorized to speak publicly about the issue, said rumors of a reorganization were swirling within the company.
Yahoo, the leading provider of online display advertising, has been under pressure for nearly a year as it held fruitless merger or partnership talks with Microsoft Corp, Google Inc and Time Warner Inc's AOL.
During that time, Yahoo lost market share in search advertising, while display ad sales have been badly hit industrywide by the U.S. recession.
The reorganization is expected to include a structure where executives like chief operating officer, chief technology officer and a new, more powerful chief marketing officer all report to Bartz, the blog said.
In addition, several sources suggested Bartz may abandon a recent restructuring that split the world into four operating regions, the blog said. Instead, one executive could head the United States and a second head up all international efforts.
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