Yahoo has reportedly announced that it will axe 20 per cent of its workforce.

As part of new restructuring plans, roughly 1,000 of the company’s 8,600-strong workforce lose their jobs, according to a report by the BBC.

"These decisions are never easy, but we believe these changes will simplify and strengthen our advertising business for the long run, while enabling Yahoo to deliver better value to our customers and partners," a Yahoo spokesperson told the news site.

The company also said that the cuts would allow it to focus on its ad flagship business.

Yahoo is the latest in a long line of tech businesses to announce significant jobs cuts.

This week alone Dell, Zoom, and Deliveroo all announced they would axe a significant proportion of their business.

They join Amazon, which is cutting 18,000 staff, Microsoft which plans to axe a fifth of staff - or 11,000 roles - and Google’s parent company Alphabet which announced it would lay off around 12,000 staff.

IBM also recently announced it would cut 3,900 staff – around 1.5 per cent of its global workforce.

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