Yahoo: Business Is So Bad We're Closing For A Week*

UPDATE: Many readers note that other tech and media companies do this, including Apple.  We still think it’s notable, given that Yahoo itself said the move was about cost-cutting.  But it turns out the move was announced in April, so our headline above does seem unfair.

Yahoo spokesperson Dana Lengkeek also sends the following note:

We have reduced operations for the week between Christmas and the new year over the last few years and have encouraged employees to take the week off. This year it is more formal and outside of essential operations, such as customer support, the offices will be closed. This is  in line with many other companies in the technology sector as well as other industries.during a traditionally slow week allows employees to recharge and the company to reduce operating costs for the week. This was announced to employees in April.

EARLIER: The following “mandatory” shutdown will surely renew enthusiasm about the Yahoo turnaround.

Jessica Vascellaro, WSJ: Yahoo Inc. is shutting down its offices, except for “essential functions,” from Dec. 25 through Jan. 1, as the Internet company searches for new ways to cut costs during the recession.

Yahoo spokeswoman Dana Lengkeek said the move is the Sunnyvale, Calif., company’s first mandatory world-wide shutdown, although Yahoo has encouraged U.S. employees to take the week off in the past.

Keep reading >

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.