Yahoo Is Shutting Offices in Mexico, Argentina to Trim Costsby
Yahoo! Inc. is shutting down two offices in Latin America, seeking to trim costs by scaling back some international operations.
The Web portal will close sites in Mexico and Argentina, while keeping open offices in Brazil and Florida, according to a statement Thursday. The number of employees affected wasn’t disclosed, though the company said the offices are small.
“Yahoo is focused on maximizing growth," the Sunnyvale, California-based company said. “Latin America is an important region for Yahoo and we will continue to invest in the people and products there.”
After more than three years of unsuccessful efforts to revive growth, sales remain in a slump, and pressure is mounting on Chief Executive Officer Marissa Mayer. The CEO is set to unveil a new plan to streamline the company’s operations by next week -- one that’s likely to include job cuts, a person familiar with the matter said earlier this month.
Yahoo is scheduled to report fourth-quarter earnings on Feb. 2. Analysts estimate that revenue, minus sales passed on to partners, declined 20 percent to $948.2 million.