11 Dec 2008,Bangalore:Yahoo! is eliminat ing about 3 per cent of its India workforce, part of the speculated 1,500 global layoffs the Internet firm is going ahead with to spruce up its cost base and better compete with rivals Google and Microsoft.
Yahoo! has nearly 1,500 employees in India.
Chief Financial Officer Blake Jorgensen said in October Yahoo! would cut jobs and other expenses in 2009 if the economy continued to deteriorate.
However, he also added that the company would cut its workforce in high-cost markets and hire aggressively in lower-cost locales such as India, Eastern Europe, and Southeast Asia.
Sources in the company said that a significant num ber of Indian employees who have been issued pink slips “were due to performance and a few of them due to consolidation”. These employees were notified on Wednesday. Yahoo! said it is making efforts to support them with severance packages and outbound placement services. Agency reports had earlier stated that the layoffs would hit the labour-intensive areas of human resources and finance. The highest-profile personnel change at the company has not yet occurred. Chief Executive Jerry Yang said in November he would leave the company, after facing strong criticism. That change will take effect when a replacement is named. Reports earlier this week had said former Vodafone CEO Arun Sarin was one of the names the Yahoo! Board was considering to replace Yang.
Meanwhile, Nasscom on Wednesday said the business process outsourcing sector is not in danger of losing jobs due to the ongoing economic downturn. Rather it would be a net hirer in the current fiscal.
In a statement here, Nasscom said, “Media reports suggest that the Indian BPO industry will see 2.5 lakh job losses by the first quarter of 2009 in the wake of downturn in the developed economies. Nasscom’s research and interaction with its member companies is not in support of this statement. Our industry performance and forecast for FY09 will be released in the next fortnight. However, on employment, the industry will continue to be a net hirer in FY09 as a direct corollary of industry growth, and fears of large-scale job losses at an industry level are unfounded.”
Source:
http://www.dc-epaper.com/dc/dch/2008/12/11/index.shtml?ArtId=017_006&Search=Y
Yahoo! has nearly 1,500 employees in India.
Chief Financial Officer Blake Jorgensen said in October Yahoo! would cut jobs and other expenses in 2009 if the economy continued to deteriorate.
However, he also added that the company would cut its workforce in high-cost markets and hire aggressively in lower-cost locales such as India, Eastern Europe, and Southeast Asia.
Sources in the company said that a significant num ber of Indian employees who have been issued pink slips “were due to performance and a few of them due to consolidation”. These employees were notified on Wednesday. Yahoo! said it is making efforts to support them with severance packages and outbound placement services. Agency reports had earlier stated that the layoffs would hit the labour-intensive areas of human resources and finance. The highest-profile personnel change at the company has not yet occurred. Chief Executive Jerry Yang said in November he would leave the company, after facing strong criticism. That change will take effect when a replacement is named. Reports earlier this week had said former Vodafone CEO Arun Sarin was one of the names the Yahoo! Board was considering to replace Yang.
Meanwhile, Nasscom on Wednesday said the business process outsourcing sector is not in danger of losing jobs due to the ongoing economic downturn. Rather it would be a net hirer in the current fiscal.
In a statement here, Nasscom said, “Media reports suggest that the Indian BPO industry will see 2.5 lakh job losses by the first quarter of 2009 in the wake of downturn in the developed economies. Nasscom’s research and interaction with its member companies is not in support of this statement. Our industry performance and forecast for FY09 will be released in the next fortnight. However, on employment, the industry will continue to be a net hirer in FY09 as a direct corollary of industry growth, and fears of large-scale job losses at an industry level are unfounded.”
Source:
http://www.dc-epaper.com/dc/dch/2008/12/11/index.shtml?ArtId=017_006&Search=Y
