Yahoo Inc., of Sunnyvale, Calif., was once a high-flying Internet company. But now it's struggling to stay relevant.
The company today announced it was laying off 2,000 people, or about 14 percent of its workforce. It was the biggest layoff in the company's history.
It's also one of the first major moves by the company's new CEO, Scott Thompson, who took over in January. The L.A. Times notes that Thompson has to start engineering a plan to grow revenues, as its watched its share of online ad revenues dip in recent years.