A long awaited shakeup at Yahoo.

FOX's Lisa Brady reports:

As part of a new strategic plan, Yahoo is laying off about 1,700 employees or 15% of its workforce. Also planning to shed some of its under-performing products aimed at reducing operating expenses and improving growth.

CEO Marissa Mayer under pressure after more than three years at the helm says focusing on core strengths will lead to better execution and clearer value to shareholders, advertisers, and users.

This as Yahoo reported a fourth quarter loss of more than $4.4-billion after a profit for the same period the year before.

Lisa Brady, FOX News.