/>
X

Yahoo shifts Europe HQ from London to Switzerland

Reports suggest the company's move, Operation Yodel, is due to a desire to cut its corporate tax bill
zd-defaultauthor-peter-judge.jpg
Written by Peter Judge on

Yahoo has confirmed that it is moving its European headquarters from London to Switzerland, even though its possible purchase by Microsoft may alter the plan. Fifty senior staff, out of its 700 UK employees, will move by the end of the year.

Yahoo wants to cut its corporate tax bill and reports have suggested the Swiss government is offering an unconfirmed tax break to the company, which announced the move to its staff by email on Thursday. The move — Operation Yodel — will take 18 months to complete. Although the main headquarters will move to Rolle, on the shores of Lake Geneva, the company will keep a presence in London.

"This decision is part of our ongoing international business strategy to increase competitiveness and deliver financial-result performance and efficiency," a spokeswoman said, confirming reports in the Financial Times and The Wall Street Journal. "Yahoo Europe remains committed to maintaining a strong presence in all of its key markets in Europe."

Related

Are you ready for the worst Economy Class airline seats in the world?
airline-seats.jpg

Are you ready for the worst Economy Class airline seats in the world?

Business
Microsoft Azure-certified roles are well-paid, and you can study for certification for $39
replace-this-image.jpg

Microsoft Azure-certified roles are well-paid, and you can study for certification for $39

Deals
Here's how Apple tells if you've dropped your iPhone into water
Liquid Contact Indicator stickers

Here's how Apple tells if you've dropped your iPhone into water

iPhone