Yahoo to cut 2,000 more jobs to make firm 'smaller, nimbler, profitable'

London, Apr 5 (ANI): 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. (ANI)