[dropcap style=”2″ color=”#f50a0a” text=”T”]he American Internet giant Yahoo! Inc. on Wednesday announced plans to shutdown its Egypt base at the end of 2013, to restructure operations for increased concentration of its employees and improve collaboration within its workforce.
[blockquote style=”quote” align=”” author=”A spokesperson for the Silicon Valley Internet service said”]This decision is part of Yahoo’s global effort to streamline operations, encourage collaboration by bringing more Yahoos together in fewer locations, and build a strong global business that is set up for long-term growth.[/blockquote]
Yahoo said its employees in the Cairo office will be offered separation packages that “exceed local law requirements.” The company declined to say how many people are currently employed by Yahoo in Cairo. Yahoo said it will continue to operate in Amman, Jordan, and Dubai, United Arab Emirates, in the Middle East and Africa region, serving users of its Arabic Maktoob site. The company said in a statement Wednesday it will close its offices in Cairo as part of its “global efforts to streamline operations … by bringing more (offices) together in fewer locations.”
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In a related and larger move, Yahoo closed its operations in South Korea at the end of last year, after it had trouble gaining traction in the market.
Official Media Statement – October 23:
Today, Yahoo announced that we plan to close our Cairo office at the end of this year. This decision is part of Yahoo’s global efforts to streamline operations, encourage more collaboration and innovation by bringing more Yahoos together in fewer locations, and build a strong global business that is set up for long-term growth.
Cairo has been a good home to Yahoo, and we’ve built a hardworking and professional team there, who have served our users and advertisers well. We are grateful for their work and thank everyone for their contributions. All of our Cairo employees will be treated with respect and fairness through this transition and we are offering separation packages to all employees which exceed local law requirements.
The Middle East and Africa (MEA) region remains an important market for Yahoo, and we will continue to serve our users and advertisers across the MEA region with the same great products and experiences they have come to expect from Yahoo Maktoob from our main operations in Amman and Dubai.”