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The Associated Press April 5, 2012, 7:09PM ET

Yahoo CEO tries to reassure workers after layoffs

Yahoo CEO Scott Thompson has reassured the struggling Internet company's employees that he will tell them more about his turnaround strategy next week.

Thompson also sought to boost sagging employee morale in a staff memo Thursday. It came a day after Yahoo Inc. began laying off 2,000 workers in the biggest purge in the company's 17-year history.

Although he didn't provide specifics, Thompson hinted at changes that will streamline Yahoo's management team. He believes having too much bureaucracy is preventing Yahoo from innovating as quickly as necessary to keep pace with Google Inc. and Facebook Inc. in the race to sell online advertising.

Yahoo, which is based in Sunnyvale, Calif., lured Thompson away from eBay Inc. three months ago. He is Yahoo's fourth CEO in less than five years.

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