Yahoo! to leave Egypt

American Internet giant Yahoo! Inc. on Wednesday announced plans to shutdown its Egypt base at the end of 2013, to restructure operations for increased concentration of its employees and improve collaboration within its workforce.

An Egypt Daily News article reported that the rebounding US Internet company said the decision is part of its “global efforts to streamline operations, encourage more collaboration and innovation by bringing more Yahoos together in fewer locations, and build a strong global business that is set up for long-term growth.”

The dot com company however did not cite the unrest in Egypt as part of the reason for its departure.

Headed by former Google exec, Marisssa Mayer, Yahoo in the last 16 months has been restructuring, re-strategising, making acquisitions and innovating, in a bid to retake its position as the internet market leader after conceding to reigning entrants, Google and Facebook.

Since her reign, the company’s stock value has increased by 100 percent.

In February, Mayer sent out a memo to all Yahoo employees globally, banning working from home, to drive up physical interactions among Yahoo staff, which reportedly ignites ideas.

“Speed and quality are often sacrificed when we work from home. We need to be one Yahoo!, and that starts with physically being together. To become the absolute best place to work, communication and collaboration will be important, so we need to be working side-by-side,” the memo read.