Yahoo! is said to cut 300 jobs

Yahoo! Inc is shutting down its office in China, a move that will eliminate 200 to 300 jobs, according to a person with knowledge of the matter. The Web portal, which has been consolidating offices and trimming staff around the world, told employees based in Beijing that it will close the site, Yahoo said in a statement on Wednesday. Yahoo had about 12,500 workers worldwide at the end of 2014. While the company didn't say how many would be affected in China, it employed 200 to 300 people there, said the person, who asked not to be named because the number isn't being disclosed publicly. "We are constantly making changes to align resources, and to foster better collaboration and innovation across our business," Yahoo said in the statement.