news Wednesday, October 15, 2014 - 05:30
The News Minute | October 8, 2014 | 09:50 am IST  Yahoo on Tuesday laid off around 400 employees from its software development centre in Bangalore, states a report by Bangalore Mirror.  However, the report states that according to an estimate, the number of Yahoo employees getting the pink slip could be as high as 2000 with only '250 left to manage the product engineering functions'.  Those getting laid off are said to have been offered, as severance package, basic salaries varying from five years to ten months, depending on the employees' seniority in the organisation.  For Yahoo, the step is 'mainly for ensuring that Yahoo remains on a path of sustainable growth', but they maintained that 'Bangalore remains an important office'. Another reason behind the laying off could be that Yahoo's operations in India are much smaller as compared to that in America and this move could be an attempt to trim costs. Deccan Chronicle reports, that though unconfirmed, November 7 could be last working day for nearly 2000 Yahoo employees in Bangalore. The 250 employees who have been spared the pink slip have been given an option to move to Yahoo’s Sunnyvale office, adds the report. 

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