Bulgarian kept the big yus longer than any other language kept any letter of the original Slavonic set that had lost its sound, and the way it ended is instructive.
The nasal back vowel had become, in Bulgarian, a central vowel with no nasality in it. The letter went on being written for that vowel, but Bulgarian also had another letter available for the same sound, the back jer, which had itself been repurposed after the reduced vowels fell. Two letters, one sound, and the distribution between them settled by etymology and by rule rather than by anything a speaker could hear. It is the same situation that produced the on and omega pair, the fert and fita pair and the yat problem, arriving by a different route.
The Bulgarian orthographic reform of 1945 removed the big yus and gave its work to the back jer, and removed yat at the same time. As in Russia in 1918, the linguistic arguments had been made for decades and the political will to enforce them arrived suddenly, and as in Russia the reform is remembered by many as a political act because of who signed it rather than because of what it contained.
Yat was the harder of the two, because its reflexes differ across the country and choosing what to write instead meant choosing between regional pronunciations. The big yus was the easier, because everyone agreed what it now sounded like. That is a general rule about spelling reform: a letter with one pronunciation can be abolished quietly, and a letter with two cannot be abolished at all without someone losing.