Yahoo Said to Close R&D Center in Beijing Employing Hundreds

(Beijing) – Yahoo Inc. is planning to close the research and development center it has in the capital that employs hundreds of people, a person who works at the facility said on March 18.

Workers were told they are being dismissed via email on March 17, the employee said. Company leaders held a meeting with workers the next morning to discuss the matter.

The U.S. company will pay severance packages of four months' salary plus one month salary for every year of employment, the employee said. The first batch of workers will leave Yahoo on March 31.