Yahoo is to cut 2,000 staff, the company announced today (Wednesday). The internet giant said the redundancies were part of efforts to make it "smaller, nimbler, more profitable". The company expects its cost-cutting programme to save £236m a year. Severance pay is expected to amount to one-third of its annual savings, although this is a one-off figure. The affected employees will be notified later today. It is the struggling web firm's sixth round of redundancies in the last four years.