According to latest reports, internet company Yahoo Inc. is shutting down its Research and Development center in Beijing.
As understood reports, the company is leaving China as part of its cost-cutting strategy.
As reports say, about 200-300 people will be laid off.
The company turned over control of its China operations to its partner Alibaba Group in 2005 as part of corporate tie-up.
Yahoo stopped offering services in China in 2013.
The company’s profit for the quarter finishing in December fell 52 percent from a year prior while income plunged one percent.
Yahoo is a global technology company, which primarily delivers personalized, including search, content, and Communications tools on the web and on mobile devices.
Yahoo! Inc. was founded in 1994 and is headquartered in Sunnyvale, California.
