Yahoo to lay off 2,000 employees

from Reuters.com

(Reuters) – Yahoo Inc will lay off 2,000 people, or 14 percent of its workforce, in its deepest round of job cuts in years as new Chief Executive Scott Thompson tries to jumpstart growth from within a leaner, more agile company while saving hundreds of millions of dollars.

Wall Street was lukewarm on the move, after two previous CEOs failed to find an answer to rivals like Web-search giant Google and the Facebook social-networking site.

Sunnyvale, California-based Yahoo, which ended 2011 with some 14,000 employees, said it would save $375 million annually from the cuts, and will incur a pretax cash charge in the second quarter of $125 million to $145 million.

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About smartspending5

I am business-minded college student who has a heart for helping others attain emotional independence and psychological stability. My background lies in Broadcasting, network marketing, and Human Services. I believe that crises and extreme stress is necessary for one to grow and figure out what matters in life (Tony Robbins). This keeps me going when frustrations arise in my business. View all posts by smartspending5

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