WebProNews

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.