Yahoo India sees layoffs, but new hires ahead
Troubled Internet giant Yahoo has shown the door to about four per cent of its work-force in India this week, as the Web-based media company struggles to keep its hold in the digital media business.business Updated: Apr 30, 2009 02:14 IST
Troubled Internet giant Yahoo has shown the door to about four per cent of its work-force in India this week, as the Web-based media company struggles to keep its hold in the digital media business.
The layoffs were confirmed to Hindustan Times by sources close to the development. However, Yahoo is rationalising its work-force more than slashing it.
A company official who wished not to be identified confirmed that even amidst cost cutting and lay-offs, the company plans to increase the India headcount by at least 150 this year.
Yahoo’s operations are mainly centred in Bangalore, where it has a big research and development facility. It also has local business operations in Mumbai.
The axing of staff follows company’s last week’s announcement of downsizing its global workforce by five per cent. The company employs close to 1,500 people in India and around 13,500 worldwide. The downsizing exercise is likely to impact around 60 jobs in India and 675 jobs globally.
“The people concerned have been informed over the last two days,” said the source. The job losses have been based either on performance issues or because some roles have been eliminated under a reorganisation plan.
Company spokespersons could not be reached for comment despite repeated attempts.