Yahoo Inc has said that it will incur expenses up to $27 million as restructuring charges in current quarter for previously announced 5% layoffs of its staff. The internet major has come up with detailed charges in the regulatory filing. 

Two months ago, the company announced plans to cut almost 700 jobs. It was not able to estimate the exact charges because of layoffs. Carol Bartz, CEO, took charge in January. The cuts come in an attempt to veer the company back on growth path in the midst of tough economy and competition from Google Inc and Microsoft Corp.

Yahoo is the number two search engine in the US with a 20% share in the markets in May. Google has a share of 65%. This is according to a study by comScore. Microsoft had 8% share before its new search engine, Bing, was launched.

Yahoo would pretax charges between 30 and 34 million dollars in severance pay expenses and related cash expenditures. The company would offset charges by credit of 7 to 8 million dollars in stock compensation expense reversals because of forfeited stock-based awards, which resulted in restructuring charges of around 22-27 million dollars.