Yahoo is slashing 2,000 jobs, 14 per cent of its workforce, as part of a major restructuring effort. In a statement issued by the company, CEO Scott Thompson said: “We are intensifying our efforts on our core businesses and redeploying resources to our most urgent priorities. Our goal is to get back to our core purpose – putting our users and advertisers first – and we are moving aggressively to achieve that goal.”

The company says it expects the cuts to deliver approximately $375m of annualized savings. It also said it had identified key parts of the business – a select group of core businesses, the platforms that support those core businesses, and the data that drives deep personalization for users and ROI for advertisers – where the company will intensify efforts and redeploy resources globally, all focused on increasing shareholder value.

It’s anyone’s guess what this actually means, but presumably the company will flesh it out in due course.