Yahoo to shut its China office
Hundreds of workers will lose their jobs after it emerged last week that Yahoo is pulling the plug on its office in China.
“An R&D facility like this is a huge cost, and for a company as weak as Yahoo is now, it doesn’t make sense. Yahoo doesn’t have significance in China. Yahoo can’t really recruit top people and Chinese firms are not going to advertise on Yahoo.”
Shaun Rein, managing director of China Market Research in Shanghai
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