Baku - APA-Economics. Yahoo is to cut 2,000 staff, 14% of the workforce, the company has confirmed.
The California-based company said the cuts were part of efforts to make it "smaller, nimbler, more profitable".
The web portal has 700 million users, but has failed to keep up with rival Google in the search engine business, while its popular webmail service has been overtaken by social media such as Facebook and Twitter.
Yahoo expects its cost-cutting programme to save $375m (£236m) a year.
However, severance pay is expected to cost the company a one-off $125m-145m. The affected employees will be notified later on Wednesday.
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