Yahoo has announced the closure of its last office in China in a new cost-cutting move.
The closure of its research and development office in Beijing will eliminate 200 to 300 jobs, Bloomberg reported.
Yahoo said it told employees about the closure on Wednesday 18 March. The California-based company has cut staff elsewhere as it struggles to keep up with the internet market’s transition from desktop computers to smartphones and tablets.
The move follows Yahoo’s announcement in January that it will spin off its stake in Chinese e-commerce giant Alibaba, which last year listed on the New York Stock Exchange in a record offer.
In 2005, Yahoo bought a 40% stake in Alibaba for $1bn (£680m) and turned over control of its China operations to the group. It stopped offering its services in China in 2013.
Yahoo’s profit for the quarter ending in December fell 52% from a year earlier while revenue dipped 1%.
