Yahoo! to close offices worldwide for a week

Internet firm Yahoo!'s offices worldwide will remain shut from December 25 through January 1 as part of cost cutting measure, says a media report.

According to the Wall Street Journal, Yahoo! is shutting down its offices, except for "essential functions," for about a week, as the company searches for new ways to cut costs during the recession.

Apart from Yahoo! others companies like Adobe and Apple would also close their offices during the holidays. They would close their offices from December 24 to January 1.

The Internet company's move is its first mandatory worldwide shutdown, although it has encouraged US employees to take the week off in the past, the report said citing Yahoo! spokeswoman Dana Lengkeek.

"Shutting down during a traditionally slow week allows employees to recharge, and the company to reduce operating costs for the week," the daily quoted Lengkeek as saying.

The report noted that US employees can use vacation time or take unpaid leave for the days not covered in the holiday schedule, while employees from outside the US would be paid as per the local laws.