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US Internet giant Yahoo will move its European headquarters to
Switzerland from London over the next year and a half, the company
confirmed on Friday.
"Yahoo! Europe has begun a programme to
relocate its European headquarters to Switzerland," the company
said in a statement.
"This decision is part of our ongoing
international business strategy to increase competitiveness, deliver
financial results, performance and efficiencies."
The statement said that the relocation would
take about 18 months and would involve five percent of the company's
work force in Europe.
It added: "Yahoo! Europe remains committed
to maintaining a strong presence in all of its key markets in
Europe."
It did not give any further details.
-- AFP
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