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Yahoo to lay off 2,000 in restructuring

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Sunnyvale, Calif.—Yahoo Inc. will lay off 2,000 employees, or about 14% of its workforce, in a restructuring that it said will ensure “a smaller, nimbler, more profitable” company. The reorganization is being overseen by Scott Thompson, Yahoo CEO since January. In a statement, Thompson said, “We are intensifying our efforts on our core businesses and redeploying resources to our most urgent priorities.” Yahoo said it expected to realize $375 million in annualized savings as a result of the staff cuts. Last year, Yahoo lost its longtime leadership position in display ad revenue to both Facebook Inc. and Google Inc.
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