Yahoo began of the Wednesday, according to a statement. The company, which is cutting 14% of its work force, expects to save $375 million from this move.

In its statement, the company said: "Through its restructuring efforts, intends to grow by responding more quickly to customer needs and competing more effectively in areas where it can win. Yahoo has identified key parts of the business -- a select group of core businesses, the platforms that support those core businesses, and the data that drives deep personalization for users and ROI for advertisers -- where the company will intensify efforts and redeploy resources globally, all focused on increasing shareholder value."

, Yahoo's new CEO, announced the cuts Wednesday morning. What he didn't say, however, was whether this was the first in a series of cuts, what departments would be hardest hit and if he's working to rebuild the company or preparing it to be sold.

"You need to be clear so you can get the people behind you. It's just showing inexperience," said Rob Enderle, an analyst with the Enderle Group. "At the very least, he needs to articulate a strategy. He needs to lay out a plan, if only to get the employees on board with wherever he's going. He needs to give people some clarity of his vision. He says he's rebuilding something, so he needs to tell people what he's creating."

Enderle added, "You only get away with reshuffling chairs on the Titanic so long. Before too long you have to right the ship."