Updated 12.43pm
FEARS ARE GROWING that up to 100 Yelp jobs are going to be lost in Dublin.
The online business review site opened its European headquarters in Dublin two years ago, promising to create 100 jobs.
Yelp, which is headquartered in San Francisco, yesterday announced its net revenue was $186.2 million (about €164 million) in the third quarter of 2016, reflecting 30% growth over the same period in 2015.
It made a profit of $2.1 million (about €1.9 million) in the third quarter of this year. Despite this, the company said it plans to cut up to 175 jobs.
In a statement, Yelp said: “The company currently anticipates recording a restructuring charge of $2 million to $4 million in the fourth quarter of 2016 associated with the planned wind down of its sales and marketing activities outside the US and Canada.
“The majority of the anticipated expense relates to severance for up to 175 of Yelp’s 4,350 employees.”
‘Not an easy decision’
Jeremy Stoppelman, Yelp’s co-founder and chief executive officer, said: “We continue to pursue our mission of connecting consumers with great local businesses everywhere, and our local business in the US has accelerated this year.
We have not yet achieved the same level of traction internationally and we have decided to redirect our resources towards the domestic opportunity for now. This was not an easy decision as it affects our valued colleagues abroad, however it allows us to sharpen our focus on the large, profitable and rapidly growing domestic business.
The company has not specified where jobs will be lost. Apart from the US and Dublin, Yelp also has offices in London and Hamburg.
Yelp sent TheJournal.ie the following comment about potential job losses here: “Yesterday’s statements confirm that we are scaling down our international sales and marketing operations, and our Dublin office is part of that process.”
The company said it is working through “a transition process” with its Dublin staff and can’t give further information until this has been completed.
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