Yahoo! to Close for a Week to Save Money

Yahoo! Inc. (YHOO) will be closed worldwide from Christmas Day to New Year’s Day to save money.

This marks the first mandatory shutdown for Yahoo!, but not for the tech industry, of course. Apple, Adobe and HP implement similar closures almost every year. And, to be fair, Yahoo! reportedly announced earlier this year that it would shut down for a week to cut costs, so today’s news does not come out of the blue.

“Essential functions” such as customer support will remain active, a Yahoo! spokeswoman said. Plus, outside of the United States, Yahoo! still must pay for time off as required by local laws and standards.

About 700 Yahoo! staff lost their jobs earlier this year. Yahoo! said it ended 2009’s third quarter with 13,200 employees. The search engine company is profitable but has dipped in popularity between Google and Microsoft’s Bing; that puts even more pressure on new Yahoo! CEO Carol Bartz to turn around the company.

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