Yahoo! India, the Indian counterpart of the global search engine and news portal Yahoo! Inc., in a shocking news has sacked around 40 of its employees across various levels in its Bangalore base. In a recent post we had covered how Yahoo! had fired around 1,000 of its employees in U.S. But now it seems it's India time to bear the axe.
Some sources link the termination to Jerry Yang's "strategic work-force re-alignment." As in an earnings call on January 29, Jerry Yang, CEO, Yahoo!, said that the company would cut 1,000 jobs globally starting mid-February.
Globally, the company's workforce rationalisation would roughly put around 1,000 jobs at risk. However, the reason that Yahoo! cites for firing the employees on Wednesday was due to poor performance record. Further, there are even speculations that the company won't be recruiting any new hands for the time being.
Besides, even Tata Consulting Services has laid-off 400 of its young engineers for non-performers. Yahoo! India's move also seems followed close on heals by IBM India, which also laid-off 600 of young joinees recently. Though till now Yahoo!India has made no comments on the development and has even refused to disclose the exact number of employees sacked. But can this move be the result of global economic slowdown and US recession fears, where job-cuts are minor losses compared to what is going to come?