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Yahoo! to Close Most Offices Over Holidays

Stocks in this article: YHOO

SUNNYVALE, Calif. ( TheStreet) -- Yahoo! (YHOO - Get Report), in a cost-cutting move, will shut down its offices from Christmas through New Year's Day.

All but essential functions at Yahoo!, such as customer support, will close for the week.

It's the first time Yahoo! has required most of its 13,200 employees to use vacation time or unpaid leave during the holidays, according to the Associated Press.

Yahoo! isn't the only Silicon Valley company that will be closing most of its offices from Dec. 25 to Jan. 1. As they have in the past, Adobe (ADBE - Get Report) and Apple (AAPL - Get Report) will be closing offices during the holidays.

Yahoo!'s cost-cutting moves have included the elimination of about 2,000 jobs since September 2008. Revenue for the year at the Internet search company will decline for the first time since 2001.

>>See our new stock quote page.

-- Reported by Joseph Woelfel in New York.

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Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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