Just two years after opening, 100 jobs set to go at Yelp’s Dublin HQ
It has emerged that online local business platform Yelp is in talks to close its Dublin office, with 100 jobs at risk.
While growth was up and profits stood at $2.1 million for the third quarter of this year, the company is set to cull 175 jobs worldwide as part of a restructuring plan as the company fails to substantially grow its business outside North America.
It is understood that the company is planning to maintain its engineering and non-commercial operations in London and Hamburg.
Despite several European takeovers, including Restaurant Kritik in Germany and Cityvox in France, the service, which is popularly used to find and rate shops, restaurants and bars.
Despite the announcement, Yelp’s shares were on the rise on the news of reported profits. In its results, it indicated that the company will incur a restructuring charge of between $2 and $4 million in the fourth quarter of this year.
At the time of the opening of its Dublin office, co-founder and CEO Jeremy Stoppelman said: “This new office will be home to our European operations and will be the engine behind our European revenue generation efforts.”
As European revenue failed to meet expectations, it is clear that the axe may now fall on that “engine” behind their “European generation efforts”.
