Yahoo announced that it will lay off 2000 employees later this year as part of new CEO Scott Thompson's new strategy for the company to become smaller and nimbler. The company will save an estimated $375 million from the cuts, but will have to pay-out in taxes and severance benefits.
The announcement came after news of a developing spat between Yahoo and Facebook, with both companies filing copyright infringement lawsuits against the other earlier in the week.
© C Harris Lynn, 2012
A worm's-eye view of the Web.
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