Yahoo! Inc. is set to announce a major round of layoffs that could comprise up to 15 percent of its total workforce, when it announces its four quarter earnings later today, the Wall Street Journal is reporting.

The report follows a similar story by Business Insider last month, which said Yahoo was looking to layoff at least ten percent of its workforce.

It’s expected that the announcement will be made during today’s scheduled video-conference call with Yahoo CEO Marissa Mayer and CFO Ken Goldman. The report added that Yahoo is set to announce the closure of several of its business units.

Yahoo’s financial progress has come under the spotlight in recent months. Since last February, the company’s stock has fallen by almost 35 percent to trade at $29.16 a share, whereas the NASDAQ exchange, where many other tech firms trade, has fallen just 1.34 percent in the same period. Shareholder’s worries have only increased following Yahoo’s decision not to sell off its substantial stake in Alibaba Group Holdings Ltd., the Chinese eccomerce giant. Instead, the company, which is being pressured to take drastic action by activist investor Starboard Value, said it would look to sell-off what it calls “non-core assets” related to its Internet business and make significant changes to its overall strategy.

However, the WSJ report cites anonymous sources as saying that Yahoo has cut off talks with potential buyers of its non-core assets.

Yahoo’s most recent filings show it has 10,700 employees in total, which means around 1,600 can expect to be made redundant if the WSJ’s report is true. Just last week, TechCrunch revealed Yahoo has already closed two of its offices Argentina and Mexico – a move that’s likely part of a wider cost-cutting plan.

The WSJ says the rationale for the layoffs is simple enough – by cutting the firm’s workforce and selling off under-performing businesses, Mayer can deliver a boost to the firm’s bottom line and buy herself more time to either turn Yahoo around, or find a buyer for the company.

However, at least one analyst believes the move will do little to deflect the pressure off of Mayer. Matthew Tuttle, CEO of Tuttle Tactical Management, told IBTimes that what Mayer needs to do is come up with a plan of action and present it to shareholders, otherwise the pressure will continue.

“The company is faced with an identity crisis and needs to define itself and reposition itself as a dominant player in this very saturated space,” Tuttle said. “The stock will likely struggle until the company can clearly define itself to both consumers and investors.”

Yahoo is set to announce its fourth-quarter earnings on Tuesday afternoon.

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