Main image of article Yahoo CEO Will Detail Company Strategy Tuesday
Yahoo CEO Scott Thompson called for a company-wide meeting this coming Tuesday, in which he reportedly will lay out his strategy for the company after cutting 2,000 jobs this week. The cut-now, explain-later strategy has drawn criticism both inside the company and among shareholders. According to a memo sent to remaining staffers Thursday, Thompson said:
The immediate next step for all of us is to get clear on our goals, and then take action and move.
The layoffs were primarily in the product, search and advertising technology divisions, according to Forbes, while the new strategy is expected to focus on three areas mentioned in Wednesday's layoff memo: "core media and communications," "platforms" and "data." A story in Reuters says questions remain about the fate of the product and technology group, headed by Blake Irving. However, Irving resigned, according to Kara Swisher at All Things Digital. She says the central product organization he headed has essentially been blown up, with the development moving back into media, sales and consumer products units. Irving also headed the search and advertising technology platforms, which Yahoo is considering selling. Despite Yahoo's 2009 partnership with Microsoft, the search unit still employs about 1,800 people, according to Reuters. Swisher says Irving largely disagreed with the proposed strategy and was deeply concerned about the exodus of tech talent from the company. Yahoo Labs, which has lost several big names in recent weeks, was hit hard in the layoffs.