SANTA MONICA (CBS) — The sprawling Santa Monica campus where thousands of Yahoo! workers toil away just miles from the beach will no longer bear the Internet company's name.
Equity Office, the owners of the complex along Cloverfield Boulevard and Broadway in Santa Monica, has applied to City Hall for new signage that will rebrand the buildings as the Colorado Center, according to the Santa Monica Daily Press. The new name is not actually new – it's one the complex held in the early 1990's, the fourth name change in two decades.
The embattled Internet company has seen a procession of CEOs come and gone, and its latest CEO Scott Thompson is under fire for claiming an undergraduate degree in computer science that he apparently has not actually earned.
A member of the Santa Monica Business Alliance told the Daily Press that Yahoo! has reduced the size of its office space below the threshold to earn naming rights, triggering the name change. The complex has been branded with the Yahoo name since 2005.
In early April, Thompson announced Yahoo! would lay off about 2,000 people in an attempt to save $375 million. It's not known how many Yahoo! employees work out of the Santa Monica complex.
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