Cost-cutting Yahoo to close offices for holidays

Dec 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: Ticketfly buying WillCall for on-premise data

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Microsoft to hire at least 400 Yahoo workers

Aug 05, 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

Jun 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

Apr 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

Ticketfly buying WillCall for on-premise data

17 hours ago

Ticketfly Inc., a San Francisco-based technology company among several posing a challenge to Ticketmaster, is acquiring WillCall Inc., a crosstown rival that turns your smartphone into a mobile wallet at live events.

HP revenue inches up after years of decline

Aug 20, 2014

Hewlett-Packard on Wednesday reported that its quarterly revenue rose for the first time in three years, nudged by improved computer sales everywhere except Russia and China.

Restaurants experimenting with pay-in-advance tickets

Aug 20, 2014

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

Chip maker Infineon to buy California firm for $3B (Update)

Aug 20, 2014

German chip maker Infineon Technologies AG says it has agreed to pay $3 billion in cash for California-based semiconductor firm International Rectifier, which produces power-management components used in everything from cars ...

User comments : 0