Facebook is performing a major corporate reorganization to focus on key products such as privacy and communication, according to an AllThingsD report.
A memo regarding the reorganization was sent to employees today, unidentified sources told AllThingsD.
In response to a query from CNET, Facebook gave this brief statement, making reference to CEO Mark Zuckerberg:
We can confirm that in order to streamline the product development process, we have reorganized our technical teams into product groups that report into Mark. These groups will be lead by Bret Taylor, Chris Cox, Greg Badros, Mike Schroepfer and Sam Lessin.
The executive structure at the social network has been pretty stable lately, but increased regulatory scrutiny and the prospect of a looming public offering may be shaking things up at Facebook.
The company recently promised to make major changes to the way it handles user information in order to end a Federal Trade Commission investigation. As part of the settlement, Facebook agreed to let users "opt into" changes that alter how their personal information is shared with advertisers and other users, to disclose the information it shares with third parties and to submit to two decades of annual "privacy audits" to ensure its compliance.
The social-networking giant is widely expected to go public next spring with a $10 billion offering and is reportedly in internal discussions over when to file its IPO papers with the Securities and Exchange Commission.
Update December 8 at 10:42 a.m. PT: Added statement from Facebook.