WebMD ( WBMD ), a top resource for medical information on the Internet, has prescribed layoffs and other cost cuts to heal its ailing finances. The New York-based company said Tuesday it plans to cut about 250 positions, or 14% of its workforce, in an effort to reduce annual operating expenses by $45 million. WebMD said most of the workforce reductions will be effective at year's end. Other cost savings actions will be implemented during the first quarter. "WebMD's value proposition for users continues to be very strong," CEO Cavan Redmond said in a statement. "Becoming leaner and more nimble will enable the company to extend our leadership in this highly dynamic and increasingly demanding marketplace." WebMD expects to record a pretax restructuring charge of $6 million to $8 million in the fourth quarter for severance and other costs related to the cost reduction initiative. WebMD's actions follow disappointing third-quarter results, reported Nov. 1.