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Yahoo will cut 1,700 jobs as it slims down its business

Yahoo will cut 1,700 jobs as it slims down its business

Troubled Yahoo Inc., once again, says it has a plan to turn things around after years of sluggish growth and turmoil.

But its latest strategy is less about growth and more about cutbacks — at nearly every level of the company. Yahoo will lay off 15% of its workforce. It is shutting down digital magazines, Yahoo Games and other properties. And it's moving away from producing original scripted content.

That was the grim state of affairs laid out by Chief Executive Marissa Mayer during Yahoo's fourth-quarter earnings report Tuesday, when the Internet company posted a massive loss. After 31/2 years in the job, Mayer is under extreme pressure to find a strategy that...

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