Breaking: Yahoo Egypt to close down
Internet giant Yahoo! Inc. plans to close its Cairo office at the end of this year, while pledges its commitment to the Middle East and Africa (MEA) audience, the US firm said in a statement issued Wednesday.
The 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,” the statement said.
Yahoo, which competes with Google and Facebook for internet users, said Cairo has been a “good home to Yahoo,” and vowed to treat Cairo employees with respect and fairness through this transition. “We are offering separation packages to all employees which exceed local law requirements,” the statement said.
Yahoo went on to add that the MEA region remains an important market for its operations, and that it will continue to serve users and advertisers across the MEA region with the same products and experiences they have come to expect from Yahoo Maktoob from its main operations in Amman and Dubai.
- Samsung Electronics Levant holds the prescreening for Marvel’s Avengers: Age of Ultron
- Samsung S6, S6 Edge receive warm welcome in Saudi Arabia
- Mission to Mars: UAE plans Arab region's first unmanned probe
- Eclipsing Facebook and Twitter: WhatsApp most popular social media site for Arabs
- More technology, less fashion: Why fashionistas haven't exactly fallen for Apple's smartwatch
- Yahoo Maktoob 'reinvents itself', adopts FIFA theme for Middle East audience
- Key talks between Egypt and America break down over protest response
- GCC shares dip down
- US 'deeply concerned' by death sentences in Egypt after Morsi trial
- Obsessed with breaking up conglomerates: how Israel's relationship with its natural resources is putting off investors