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Yahoo to cut 2,000 more jobs to make firm profitable | Embattled Internet firm Yahoo has announced that it would cut 2,000 staff, that constitutes 14 percent of its workforce, as part of efforts to make
the company "smaller, nimbler, and more profitable." It is Yahoo's sixth round
of redundancies in the last four years, with the latest announcement bringing
the total to almost 6,000 jobs losses. This is the biggest round yet, beating
the 1,500 laid off in late 2008 amid recession. According to The BBC, the affected
employees will be notified later on Wednesday. Yahoo expects its cost-cutting
programme to save 375 million dollars a year. However, severance pay is expected
to cost the company a one-off 125 to 145million dollars, the report said. The
California-based web portal has 700 million users, but has failed to keep up with
rival Google in the search engine business. Its popular web mail service has also
been overtaken by social media such as Facebook and Twitter. Yahoo has also changed
its chief executive twice over in the same period, but has as yet failed to turn
around its fortunes. According to the report, the firm made a profit of 1billion
dollars last year, down from 1.2 billion dollars in 2010.
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