• Bloomberg, Tuesday, April 10, 2012 11:47 AM

Yahoo CEO Scott Thompson on Tuesday outlined the company’s latest restructuring, which is a desperate effort to reverse sales declines, and step up the pace of product innovation. “Yahoo, after saying last week that it will eliminate 2,000 jobs, is reorganizing businesses around three areas: consumers, geographic regions and technology,” Bloomberg reports, citing an internal memo from Thompson.

“The consumer division will focus on media, commerce and so-called connections, which include Web search and e-mail,” according to the memo. Ross Levinsohn, currently EVP in charge of the Americas, will head the media group, which will include the home page, sports, news, entertainment and other media properties, Sunnyvale, Yahoo said. Shashi Seth, who currently runs Yahoo’s Web search products, will oversee connections, which will include search as well as email, the Flickr photo-sharing service, Yahoo’s question-and- answer feature, and other communications and social tools Bloomberg reports. 

The head of Yahoo’s commerce business, which is comprised of jobs, autos and personal ads, is yet to be named. “Over the last 60 days, we’ve fundamentally rethought every part of our business,” Thompson said last week in a letter to employees.

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