Yahoo will shut down everything except for certain “basic function” in a week, and December 25 to January 1, according to The Wall Street Journal Monday’s report.

A Yahoo representative confirmed the Wall Street Journal reported Tuesday, adding that staff had been informed of the scheme in April. Yahoo will have the customer support people working in the rest, and plans to continue to build and run its Web site, the representative said.

Yahoo has always been to reduce costs,first time this year to the Chief Executive and Chief Financial Officer. Layoffs, search outsourcing deal with Microsoft and re-assess the business priorities of many people, the company’s to-do in 2009.