Yahoo is cutting roughly 14% of its workforce, or 2,000 employees, as it moves forward with a radical restructuring effort.
In a written statement in April, former chief executive Scott Thompson said the cuts "are an important next step toward a bold, new Yahoo -- smaller, nimbler, more profitable and better equipped to innovate."
The Internet's first giant portal has retained a massive user base, but has lost its edge in nearly every field to newer, nimbler rivals.
Yahoo expects the job cuts will save the company $375 million a year when they are completed.
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