Yahoo announced to employees its plans to close its Egypt office, as part of an effort to streamline operations globally and restore the faded Internet star to former glory.
Build a strong global business
Spokeswoman Sara Gorman said in an email that 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.”
Gorman refused to reveal how many workers are in the Cairo office and maintained that the Africa and Middle East remain important markets for the company.
The struggling internet giant reported that its earnings in the recent quarter fell from the same period last year.
The profit figures, which topped Wall Street expectations but showed that chief executive Marissa Mayer had yet to recover the company’s revenues, were revealed along with a statement that the company would keep a bigger portion of Alibaba under an amended deal with the Chinese company.
In a related move, Yahoo closed its operations in South Korea at the end of 2012, after it had trouble gaining traction in the market.