|10-15-2014, 02:15 PM||#1|
Yahoo to close Jordan office as downsizing continues
Yahoo Inc. is planning to halt its operations in Amman, Jordan, leaving its four-year-old offices in a bid to cut costs overseas, particularly in the Middle East.
The Sunnyvale, California-based internet giant said it will transfer all of Jordan`s previous operations to its offices in Dubai, which now has become the last remaining outpost for the internet corporation.
This recent downsize occurs a week later after Yahoo have cut 400 jobs in Bangalore, India, accounting for about a third of its staff in the region following the shutdown of its operations in Cairo a year ago.
Yahoo, like what it did in India, affirmed that some employees in Amman will be offered to relocate most probably to Dubai.
All eyes will be on Yahoo next week when it reveals its third-quarter earnings.
In the second quarter, Yahoo only earned $87 million to $1.04 billion in revenues, pointing to poor performance of the internet corporation.
The current new downsize slammed Yahoo Inc. shares, plummeting severely by 1.07% or 0.41 points to settle at 37.97 at 16:15 PM New York Time.
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