Dive Brief:

• Re/code reported that Yahoo has hired McKinsey & Co to help reorganize its core businesses.
• The management consulting firm will reportedly help Yahoo decide on its strategy going forward.
• Yahoo has been struggling to boost revenue and faces stiff competition from Google and Facebook.

Dive Insight:

Yahoo has been attempting to revive its business by spending more to get users on its websites, but the company’s revenue fell to $1.0 billion in the third quarter from $1.09 billion a year earlier, and it forecast a drop to $920 million-$960 million in the current quarter.

Several top executives have also left in the last couple of months. Overall, Yahoo’s stock has fallen about 32% in 2015.

The company declined to comment on the reported new arrangement, as did McKinsey.

Yahoo is also preparing to spin off its 15% stake in Chinese e-commerce giant Alibaba Group Holdings.