Cost-cutting Yahoo to close offices for holidays

December 22, 2009

(AP) -- Yahoo says it will close its offices from Christmas through New Year's to help save money. The cost-cutting move ends a year in which Yahoo's revenue declined for the first time since 2001.

It's the first time that has required most of its 13,200 employees to use vacation time or unpaid leave during the . Only employees performing essential duties will be working from Dec. 25 through Jan. 1.

Yahoo Inc., based in Sunnyvale, Calif., has eliminated about 2,000 jobs and shed other expenses since September 2008. The streamlining has helped offset a 12 percent decline in Yahoo's revenue through the first nine months of this year.

Several other companies traditionally close most of their offices during the holidays.

Explore further: Yahoo profits rise in 3Q, will revenue follow?


Related Stories

Microsoft to hire at least 400 Yahoo workers

August 5, 2009

(AP) -- Microsoft Corp. will hire at least 400 workers from Yahoo Inc. if government regulators approve the companies' proposed Internet search partnership, and Yahoo will receive $150 million to cover any unexpected costs ...

Yahoo picks a new CFO likely to shake things up

June 12, 2009

(AP) -- Yahoo Inc. has hired a cost-cutting specialist as its new chief financial officer, signaling the Internet company's determination to weed out the bureaucracy that has been dragging down its profits for the past three ...

Yahoo plans first major layoffs under new CEO

April 15, 2009

(AP) -- Yahoo Inc. is gearing up for its third round of mass layoffs in 14 months, signaling the long-slumping Internet company is still struggling to snap out of its financial malaise under a new leadership team.

Recommended for you

Microsoft aims at Apple with high-end PCs, 3D software

October 26, 2016

Microsoft launched a new consumer offensive Wednesday, unveiling a high-end computer that challenges the Apple iMac along with an updated Windows operating system that showcases three-dimensional content and "mixed reality."


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.