Employees will get their five months salary as a severance package.
Yahoo!
Hyderabad: Yahoo Inc on Tuesday issued pink slips to its nearly 2,000 employees at its software development centre in Bengaluru, in an attempt to consolidate its international operations to trim costs.Before Yahoo could official announce the retrenchment, its employees spilled the beans on social networks as soon as the decision was announced. According to unconfirmed information, November 7 would be the last day for 2,000 employees at Yahoo SDC. The employees will get their five months salary as a severance package.
Though some employees claimed that Bengaluru SDC was being shut down, an official statement from Yahoo India denied any such move.“As we ensure that Yahoo is on a path of sustainable growth, we’re looking at ways to achieve greater efficiency, collaboration and innovation across our business. To this effect, we’re making some changes to the way we operate in Bangalore leading to consolidation of certain teams into fewer offices. Yahoo will continue to have a presence in India and Bangalore remains an important office,” the statement said.
Out of 250 who survived the layoff, some have been given an option to shift to Yahoo’s Sunnyvale office.Yahoo was one of the US-based technology companies, which set up its development centres in India to tap its engineer talent and also to cater to one of the large markets in the world.However, Yahoo’s recent initiatives such as social network and entertainment portal failed to take off as expected.
( Source : dc correspondent )
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