BrandArena: Yahoo exiting China!

Thursday 19 March 2015

Yahoo exiting China!

The headlines have been buzzing this week with reports that former Internet titan Yahoo is "withdrawing its remaining operations in China, laying off between 200 and 300 employees and shutting down its Beijing research center".

“We are constantly making changes to align resources, and to foster better collaboration and innovation across our business. Today we informed our employees based in Beijing that we will be closing our office there,” Yahoo said in a statement.

“We will be consolidating certain functions into fewer offices, including to our headquarters in Sunnyvale, California, US. Our impacted employees will be treated with respect and fairness through this transition,” Yahoo added.
Yahoo was reported in October to be cutting 400 Indian jobs.In addition to pushing for an AOL merger and larger buybacks, activist Starboard Value has been urging Yahoo to cut costs by as much as $500M/year.

Last year, China had some of the largest tech exits.

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