WebProNews

The European headquarters for Yahoo's operations will be boxing up all of their purple goodies and shifting offices out of the UK.

Over the next 18 months, Yahoo plans to move five percent of their European workforce. They decided Switzerland, rather than London, should be the home for their Continental headquarters.

A statement appearing on Yahoo News confirmed the change in locale:

"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."

It added: "Yahoo! Europe remains committed to maintaining a strong presence in all of its key markets in Europe."

With Yahoo looking for cost savings and other ways of streamlining their operations, a move to Switzerland must fit into that line of thinking. We're inclined to believe favorable corporate tax rates in Switzerland may have motivated this strategic move.