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More Squawk From Jim Cramer: What's Left of Yahoo! (YHOO) is 'Worth Something'

NEW YORK (TheStreet) -- Yahoo! (YHOO - Get Report) stock is advancing by 3.33% to $37.54 in mid-morning trading on Wednesday, as the technology giant reported better-than-expected 2016 first quarter earnings and moves forward with the sale of its core Internet business.

The company has significantly reduced its workforce and closed a number of offices globally, as Yahoo! streamlines its business amid a sharp decline in search revenue, TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" this morning.

Yahoo!'s headcount is down roughly 22% year over year and down 42% since 2012, he explained. The company has closed offices in cities such as Milan, Mexico City and Madrid, Cramer added.

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