BANGALORE: Yahoo! India on Wednesday laid off some 50 people, about 3% of its workforce, as part of a global downsizing move. This is the second round of layoffs in the company this year. Sources close to the company said that a part of the layoffs was based on performance, and the rest on job redundancies on account of consolidation. An employee told that Yahoo!'s HotJobs division has almost wound up, with some employees being redeployed and others asked to go.
The company is said to be making efforts to support impacted employees with severance packages and outbound placement services. A spokesperson of the company said the Indian operations was notified about the layoffs on Tuesday and the process was completed on Wednesday.
Globally, Yahoo is laying off about 1,500 employees, about 10% of its workforce, according to a report by news agency Reuters. This follows the announcement in October that layoffs would occur by year's end, the agency said. Reuters said that the layoffs will hit hardest in the labour-intensive areas of human resources and finance.
Yahoo!'s found the going tough against the likes of Google. In a move that is said to be unrelated to the layoffs, Yahoo! India's chief information officer Viswanathan Krishnamurthi has quit the company.
Source: The Times of India
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