In its latest cost-cutting measures, internet giant Yahoo Inc. has shut shop in China.
A move which includes closure of Yahoo’s Beijing research centre, has cost 200 employees their job, a 2% of Yahoo’s worldwide staff of 12,500.
The withdrawal of Yahoo from China was not a complete surprise as the company had already stopped offering services to users in China in 2013, transferring their accounts to Alimail, an email service offered by Yahoo’s close partner in the region, Alibaba Holding Group Ltd.
Since October 2014, Yahoo has sacked 900 employees, including the latest Chinese purge, mostly in offices outside the US.
Job cuts in recent months have also affected workers in Bengaluru, India, and the company’s Canadian offices.
“We will be consolidating certain functions into fewer offices, including to our headquarters in Sunnyvale, California,” Yahoo said.