Story first appeared in Yahoo News.
SUNNYVALE, Calif. (AP) — A week after announcing a painful round of job cuts, Yahoo CEO unveiled a plan Tuesday that will reorganize the company into three main divisions focused on users, advertisers and technology.
He unveiled the plan at an "all hands" meeting for employees at the company's headquarters in Sunnyvale, Calif. It will take effect on May 1.
According to a memo obtained by The Associated Press, the new structure aims to improve users' experience with Yahoo, work closely with advertisers in different regions of the globe, and strengthen the company's technology group.
The changes separate what had been a mixed reporting structure that made regional groups sometimes responsible for both creating content and selling ads against it.
The consumer group will contain media properties such as the Yahoo home page, news, finance, sports and entertainment products, under the executive vice president of the Americas.
The consumer group also takes over the company's search business and products that consumers use on a daily basis such as email and instant messaging tools.
The current Yahoo CEO, a former executive at online transaction processor PayPal, also told employees that Yahoo will renew its focus on commerce, an area he said will play a critical role in Yahoo's future growth. The commerce team will focus its efforts on Yahoo pages devoted to autos, shopping, travel, jobs, personals and real estate.
Last week, he announced that Yahoo would begin laying off 2,000 employees, a 14 percent cut to its workforce and the biggest in its 17-year history. Since he joined Yahoo just three months ago, is under increasing pressure to turn the Internet giant around. His chief critic is the hedge fund manager, who controls a 5.8 percent stake in the company and has been angling for representation on the board.
Yahoo's stock closed down 11 cents at $14.99 on Tuesday as the Dow Jones industrial average had its third triple-digit decline in four trading days.
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