Yahoo cuts 2,000 jobs
4 April 2012
Yahoo is to axe 2,000 jobs, 14% of the troubled internet company's workforce.
The move, the 6th layoff in four years under three different chief executives, is intended to save $375m (£236m) annually.
New CEO Scott Thompson, former head of PayPal, is restructuring Yahoo to focus on what it sees as its core strengths.
"Today's actions are an important step towards a bold, new Yahoo – smaller, nimbler, more profitable and better equipped to innovate as fast as our customers and our industry require," said Thompson.
"Our goal is to get back to our core purpose: putting our users and advertisers first. And we are moving aggressively to achieve that goal."
A giant among the first generation of internet companies, in recent years Yahoo has struggled to make a convincing case for itself against the dominance of Google, the rejuvenated Apple and the rise of social platforms such as Facebook and Twitter.
As a result, Yahoo has appeared neither nimble enough to bring smart ideas to market swiftly, nor aggressive enough to use its size effectively.
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