Yahoo to shut down China office, cut 350 jobs

  • Leading Internet company Yahoo will be shutting down its China office. The move, which is a part of the company’s austerity measure, will cut around 350 jobs, media reports stated. Yahoo had sold its Chinese operations to Alibaba in 2005 and the Beijing research center was its only remaining physical presence in mainland China. A company spokeswoman said that the employees were informed of the closure on Wednesday.