TechCrunch: Yahoo Closed Its Offices Mexico City, Buenos Aires

According to TechCrunch, Yahoo! Inc. YHOO's initiatives to downsize its regional operations is already underway.

TechCrunch reported that Yahoo has closed its offices in Mexico City, Mexico and Buenos Aires, Argentina. The publication confirmed the news directly with a Yahoo spokesperson.

"Yahoo is focused on maximizing growth," the spokesperson told TechCrunch. "With that in mind, we communicated to employees in Argentina and Mexico that we will be closing our offices there."

TechCrunch added that Yahoo is keeping its teams in Sao Paulo, Brazil and Coral Gables, Florida.

The Yahoo spokesperson was also quoted as saying "Latin America is an important region for Yahoo and we will continue to invest in the people and products there. Our teams in Brazil and Coral Gables will remain vital to the company."

Shares of Yahoo were trading lower by nearly 2.5 percent at $28.95 heading into the final hour of trading on Thursday.