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Yahoo Cuts 2,000 Jobs

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CNNMoney: Today, Yahoo said it will lay off 2,000 employees, or approximately 14 percent of its total workforce. According to the company, the job cuts will save Yahoo $375 million per year. New CEO Scott Thompson called the cuts "an important next step toward a bold, new Yahoo -- smaller, nimbler, more profitable and better equipped to innovate. Our goal is to get back to our core purpose -- putting our users and advertisers first."

Many observers believe that additional rounds of layoffs will follow after this one.

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