Yahoo CEO outlines new corporate structure

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(AP) SUNNYVALE, Calif. — A week after announcing a painful round of job cuts, Yahoo CEO Scott Thompson unveiled a plan Tuesday that will reorganize the company into three main divisions focused on users, advertisers and technology.

Thompson unveiled the plan at an "all hands" meeting for employees at the company's headquarters in Sunnyvale, Calif. It will take effect 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 bolster its technology group.

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Thompson said in a memo distributed to staff "It's time for Yahoo to move forward, and fast."