New York, Dec 22: Yahoo, which managed to fight the global economic slump with rigorous cost cutting measures, has now found a new and innovative way of achieving this.
According to a report in Wall Street Journal, Yahoo has imposed a 'week-long shutdown' starting from Dec 25 through Jan 1, 2010 as part of cost cutting measure.
In the company's first mandatory world-wide shutdown, Yahoo is shutting down all its offices except for the 'essential functions' such as customer support.
Shutting down "during a traditionally slow week allows employees to recharge, and the company to reduce operating costs for the week," Yahoo spokeswoman Dana Lengkeek is quoted as saying in the report.
While the US employees can use vacation time or take unpaid leave for the days not covered in the holiday schedule, the employees from outside the US would be paid as per the local laws, the spokeswoman informed.