Yahoo (NSDQ: YHOO), which had been threatening its European operations for the last year to shape up or they would be shipped out, has done just that: it is moving its European headquarters from London to Switzerland, with 70 of its top managers in the UK told to relocate or lose their jobs, reports FT. The move, nicknamed Operation Toblerone, was made for corporate tax reasons, the story says citing a source.
Yahoo
Wow, a lot of companies are moving their offices to switzerland lately. I wonder why other countries do not lower taxes to keep them.
Note to self: when projects are named after chocolate bars be sure to compare the home origin of said confectionery with possible office relocation. eeek.
Toblerone = Switzerland.
Ghirardelli = San Francisco
Cadbury = Birmingham, UK
Ferrero Rocher = Italy
How can you quote the FT source and then fail to correctly quote the nickname of the project? This is very poorly researched and written.
Tom
Now FT corrected it to call Project Yodel…when I read it yesterday afternoon here, the story called is Project Toblerone. It would have been nice it FT had a correction mechanism which showed what the previous version of the story was.
Yahoo’s European HQ is actually in Dublin in Ireland yes Yahoo was getting all the Irish tax brakes. The management team flys into Dublin every month for meetings to satisfy Irish tax law then they fly back to the Plush office in London.
So are Yahoo still going to actually have London offices?
after eating part of a "Toblerone", i can't see why anyone is worried anymore – it tastes like cheap "Herschey's" chocolate. and that doesn't mean to say that i don't appreciate "Godiva" (made in Belgium only) or "Fry's" Turkish Delight (still good after decades).
Huh??? Toblerone tastes like cheap Herschey's?? Are u kidding? Herschey is so gross… just sugar and fat! Perfect for midwestern americans… but not for me!!
Yeah hate paying tax myself, we pay tax and people who sit idle get support. I don`t understand the logic.