The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK (Trefis) -- Yahoo! (YHOO) has gone ahead with its restructuring plans and confirmed that it has cut 2,000 jobs in various divisions, amounting to around 14% of its total workforce. This is one of Yahoo!'s biggest layoffs yet and comes at a time when Yahoo! is struggling to keep up with its competitors in markets it once dominated -- search and display advertising.
Yahoo! CEO, Scott Thompson, announced that it plans to save around $375 million following these layoffs, and create a smaller, nimbler structure which is more profitable and able to innovate more quickly in order to compete with the likes of Google (GOOG) and Facebook.
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