Yahoo has announced that it is closing its Cairo office at the end of the year. According to a company spokesperson, the decision is part of a global effort to streamline operations, encourage collaboration by bringing more Yahoos together in fewer locations, and build a strong global business.
The company asserted that the Middle East and Africa region remains an important market for Yahoo, which it will continue to serve from its offices in Amman and Dubai.
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"Yahoo came to Egypt all guns blazing, poached staff from other media, came in and cut ad rates by more than half, put little guys out of business, and then buggered off," Con O'Donnell, the founder and Ex-CEO of Sarmady, a digital publishing and marketing company based in Cairo, told Wamda.
"The experience of Yahoo in Egypt is not a happy one, and it is a tragic ending for scores of great talent that are now out of a job."