Yahoo To Close Jordan Office, Cut 80 Jobs

(RTTNews) - Yahoo Inc (YHOO) is shutting down its office in Amman, Jordan, office as part of efforts to reduce costs in its international operations. The move will result in the elimination of about 80 jobs; the company plans to relocated some of those affected.

The Jordan office helped support Maktoob, Yahoo's Arab Internet services company, which will continue to be operated from Yahoo's office in Dubai and other regional offices.

Yahoo CEO Marissa Mayer is under pressure to spur growth. In September, Starboard Value LP said it acquired a significant stake in Yahoo and urged the company to seek a possible combination with AOL Inc (AOL) as well as opportunities to monetize its non-core equity investments and cut costs.

Also, Yahoo roped in Kevin Gentzel as the new head of advertising sales. Gentzel, the former chief revenue officer at the Washington Post, will report to Yahoo's head of Americas, Ned Brody.

YHOO closed Tuesday at $37.97, down $0.41 or 1.07%, on a volume of 38.5 million shares on the Nasdaq. In after hours, the stock gained $0.16 or 0.42%.