Yahoo plans to lay off 2,000 employees , the Star Tribune said.
In an attempt to turn around the struggling internet giant, new CEO Scott Thompson plans to eliminate 14 percent of his workforce in hopes of saving near $375 million a year.
Workers losing their jobs were being notified Wednesday. Some of the affected employees will be staying on to complete various projects, according to Yahoo.
The housecleaning marks Yahoo's sixth mass layoff of employees in the past four years under three different CEOs. This one will inflict the greatest cuts yet.
These cuts are part of an overhaul aimed on focusing on what Thompson believes are Yahoo's strengths in the increasingly important mobile computing market.