Yahoo say good bye to 1,500 staff, hiring in India

By siliconindia   |   Wednesday, 10 December 2008, 20:57 IST   |    3 Comments
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San Francisco: Struggling amid financial crisis, the internet major, Yahoo is all set to say good bye to 1,500 employees. The company's announcement in October had indicated that the layoffs would occur by the end of this year. Recently, a report appeared in All Things Digital, a blog covering Silicon Valley has specified that layoffs would affect about 10 percent of Yahoo's workforce and would hit hardest in the labor-intensive areas of human resources and finance. Blake Jorgensen, Chief Financial Officer, Yahoo had stated in October that the company would be prepared to cut jobs and other expenses further in 2009, if the crisis is going on. Meanwhile, Yahoo is also looking to hire aggressively in lower-cost destinations such as Eastern Europe, India and Southeast Asia. There are likely changes in Yahoo's top executive levels also. Though Chief Executive Jerry Yang, who had announced in November that he would leave the company as he faces strong criticism for his leadership, the change will take effect when a replacement is named.