Yahoo Inc. is having a mandatory world-wide shutdown of its offices for one week, between Dec. 25th and January 1, in a bid to cut costs, The Wall Street Journal reports.

The week will allow employees to recharge, a Yahoo spokeswoman told the Journal. U.S. workers will either have to take a paid vacation, if they have it, or take unpaid leave during those days.

Outside the U.S., time off will be paid consistent with local standards and laws.

Since the beginning of the year, Yahoo has implemented an aggressive cost-cutting play, laying off nearly 700 employees in the spring and shutting down duplicative products.

Yahoo shares were trading up 4 cents or 0.3 percent to $15.92 on the Nasdaq during morning trading.

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