On Thursday, Yahoo announced another broad corporate reorganization that it said would allow it to compete more effectively after the breakdown of merger and partnership talks with Microsoft, the New York Times reports:

"The shake-up, which has been anticipated for about a week, is the latest in a series of corporate realignments at the Internet company over the last 18 months. It comes amid a string of departures of senior executives and high-profile engineers and managers and a looming proxy battle for control of the company's board against Carl Icahn, the activist financier."

But the report said that analysts were skeptical that reorganization would be any more effective than any of the previous ones at restoring Yahoo's fortunes.

"It changes nothing," said Benjamin Schachter, a UBS Securities analyst. "Companies that are doing well, generally don't do reorgs. They significantly impact morale and show that the crux of the problem is the lack of execution. This is a management team that has not been able to execute."