Saying it needed to turn the Internet company around and make it “smaller, nimbler, more profitable,” Yahoo! announced its plan to cut 2,000 staff, or 14% of the workforce. Yahoo expects this move to yield savings of US$375-M, though severance pay will probably cost the company anywhere between $125-M to $145-M. This is the company’s 6th round of redundancies in the last 4 years, according to reports. Yahoo’s webmail service has been overtaken by social media, while Google continues to lead the search engine business.
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