SUNNYVALE, Calif., April 10 (UPI) -- Yahoo! Inc.'s headquarters in California is undergoing a shakeup, a memo from Chief Executive Officer Scott Thompson says.
The memo written for employees said the firm would organize itself around "consumer, regions and technology," reported The New York Times, which reviewed the note.
Thompson said the consumer division's media business would be run by Ross Levinsohn, who was previously the head of Yahoo! Americas. The firm's social media businesses, Flickr and its e-mail service would be directed by Shashi Seth, currently the head of Yahoo!'s search business.
Technology will be handled by Mark Morrissey, previous head of the search business.
Morrissey and David Dibble, who runs the firm's data center, will also be in charge of Yahoo! Labs, which will be charged with finding new ways to interact with the company's 700 million visitors, the Times said.
Sam Shraugher, who resigned as the head of PayPal's products division last week, is expected to be named the head of Yahoo!'s commerce division.
Last week, Yahoo! said it would lay off 2,000 workers, about 14 percent of its workforce. The firm, despite the huge number of visitors, is losing advertising market share to Google Inc. and Facebook.
Some shareholders are growing impatient with the firm, which appears to be trimming its operation, rather than stepping up and finding innovative ways to engage its visitors and turn that into advertising revenue, the Times said.
|Additional Business News Stories|
ERBIL, Iraq, June 19 (UPI) --Iraq's Kurds have consolidated their growing energy sector with Chevron Corp. securing a third exploration block in the semiautonomous northern region that increasingly operates as a de facto independent state and France's Total buying a majority stake in another.
RIYADH, Saudi Arabia, June 19 (UPI) --Britain's BAE Systems, Europe's biggest defense company, reportedly expects to wrap up a price deal with Saudi Arabia for 72 Eurofighter Typhoon combat jets after two years of tortuous negotiations.