Yahoo CEO to discuss turnaround strategy with employees

San Francisco, Apr 3: Yahoo CEO Scott Thompson is planning to discuss more about the turnaround plans with its employees next week.

After Yahoo began laying off 2,000 employees in a bid to save hundreds of millions of dollars, Thompson was found boosting up the confidence of employees in a staff memo.

"I have seen big turnarounds before, and this company has the foundation, the spirit, the backbone and the creativity to get it done," Thompson said in a statement.

In the memo, Thompson hinted his plans to streamline Yahoo's management team so that it can compete with the Internet search giant Google Inc. and social networking site Facebook Inc. in the online market.

"There's a lot to do, and that's why I can't stress enough that we all need to focus on getting stuff done. Getting stuff done is short hand for eliminating bureaucracy and barriers so we can all innovate as fast as our customers and the industry require," said Thompson.

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