Yahoo has cut of a massive 14% of it total workforce, up to 2,000 jobs. Yahoo estimates that it will save $375 million when completing the layoffs. This has been of the larges layoff’s by Yahoo in recent years, in December 2010 yahoo cut off 4% it workforce, equivalent to 560 employees and jobs.

Yahoo’s CEP Scott Thompson explains:

[box_dark]“Today’s actions are an important next step toward a bold, new Yahoo! – smaller, nimbler, more profitable and better equipped to innovate as fast as our customers and our industry require. We are intensifying our efforts on our core businesses and redeploying resources to our most urgent priorities.

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,”-“Unfortunately, reaching that goal requires the tough decision to eliminate positions. We deeply value our people and all they’ve contributed to Yahoo!.”[/box_dark]

Source: techcrunch