Yahoo! shuts shop over Xmas to cut costs
- Added:
- Dec 23, 2009
Internet firm Yahoo!'s offices worldwide will shut for the first time from December 25 through January 1 as part of cost cutting measure, according to a report.
The Wall Street Journal reports that Yahoo! is shutting down its offices, except for "essential functions," for about a week, as the company searches for new ways to cut costs during the recession.
The internet company's move is its first mandatory world -wide shutdown, although it has encouraged US employees to take the week off in the past, the report said citing Yahoo! spokeswoman Dana Lengkeek.
"Shutting down during a traditionally slow week allows employees to recharge, and the company to reduce operating costs for the week," the daily quoted Lengkeek as saying.
Apart from Yahoo! others companies like Adobe and Apple would also close its offices during the holidays. Adobe and Apple would close its offices from December 24 to January 1.
The report noted that US employees can use vacation time or take unpaid leave for the days not covered in the holiday schedule, while employees from outside the US would be paid as per the local laws.
Yahoo! has already laid off about 700 people in the spring as cost cutting move.
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