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Yahoo! to cut 2,000 jobs

April 4, 2012 at 5:02 PM   |   Comments

SUNNYVALE, Calif., April 4 (UPI) -- U.S. Internet giant Yahoo! Inc. said Wednesday it would cut 2,000 jobs as part of a company-wide restructuring strategy.

"We are intensifying our efforts on our core businesses and redeploying resources to our most urgent priorities," the firm's chief executive officer, Scott Thompson, said in a statement.

"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," he said.

Thompson said a "smaller, nimbler, more profitable" company will be "better equipped to innovate as fast as our customers and our industry require."

The company currently has a payroll of 13,700 workers.

Yahoo! said the company is expecting to save $375 million on an annualized basis. One-time charges of up to $145 million in severance pay and other restructuring expenses are expected in its second-quarter financial results

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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