According to the blog AllThingsD, an affiliated blog of the Wall Street Journal, the search giant Yahoo’s Chief Executive Carol Bartz would announce an important and major reorganization of the management of the company. Rumor has it that the announcement may come as early as next week.

Many sources from inside and outside the company have been cited as talking about the major change and according to them saying, the announcement together with the reorganization might occur on Wednesday, but it may be possible to last for over a week or two or even to be divided into small pieces.

“Next week’s a biggie,” Bartz wrote in an e-mail sent to his employees on Friday and advised them to get a big rest and get prepared for the big stuff ready to going on. Yet, the officials at Yahoo refused to make any further comments on the issue, but a person inside the company, who asked for anonymity, stated that the rumors about the reorganization are really spreading inside the company.

Yahoo has been under pressure from Microsoft Corporation, Google Inc and AOL from Time Warner Inc, with whom the leading provider of online display advertising has been keeping unproductive merger of partnership. During this time, Yahoo has lost its market shares in search advertising and the ad’s sales have been very low.

Bartz might now have under his power executives such as chief operating officer, chief technology officer and a new, more powerful chief marketing officer. All of them would report to Bartz beginning with the new reorganization. Bartz might also divide the world into four operating regions, where one executive would head the United States and a second one would head up the international efforts.