Internet firm Yahoo!'s offices worldwide will remain shut from 25th December through 1st January as part of a cost-cutting measure, reports PTI.
According to the Wall Street Journal, 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.
Apart from Yahoo!, other companies like Adobe and Apple would also close their offices during the holidays. Adobe and Apple would close their offices from 24th December to 1st January.
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.
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
Yahoo! has already laid off about 700 people in spring as a cost-cutting move.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )
