Yahoo's layoffs begin in Latin America as it shuts down offices in Mexico and Argentina

Yahoo shut down its offices in Mexico and Argentina, TechCrunch reported Thursday, in what looks to be a sign that it may be kicking off the recently reported layoff plans across the company.

The report said that despite the closures Mexico City and Buenos Aires, Yahoo will still keep its presence in the Latin American market with outposts in Sao Paulo, Brazil, and Coral Gables, Florida, still in operation.

It didn't disclose how many Yahoo employees will be affected, but Business Insider previously reported that Yahoo is prepping for a company-wide layoff affecting at least 10% of its workforce, which is more than 1,000 people.

This isn't the first time Yahoo has downsized its overseas operations. It shut down offices in India, China, and some parts of Europe over the past 18 months.

Yahoo is under pressure to sell its core business and make big changes across its management and overall strategy. Just last week, it was reported that Yahoo had rejected "several" offers to buy its core internet business.

Yahoo sent the following statement in response to this article:

"Yahoo is focused on maximizing growth. With that in mind, we communicated to employees in Argentina and Mexico that we will be closing our offices there. Our impacted employees will be treated with respect and fairness through this transition. 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 (Miami) will remain vital to the company."