|10-08-2014, 01:58 PM||#1|
Yahoo starts new layoffs in India to support functions
The giant internet firm Yahoo! started fresh new layoffs in India to support its operation functions ahead of its third quarter earnings.
Yahoo is downsizing its software development center in Bangalore, India. Around 400 of its employees have been already affected after the company minimized its product engineering teams at its headquarters in Sunnyvale.
More, Yahoo’s Research & Development (R&D) head Hari Vasudev and other senior executives will be moved to the U.S. Amit Dayal center.
Yahoo India was the second-largest R&D centre outside the U.S. and was built in 2002, yet the internet giant stated it will still "continue to have a presence in India but is looking to consolidate some teams into fewer offices."
According to Yahoo, this inner reformation in India and layoffs will lower its costs and boost its profits after last quarter it reported revenues and earnings per share that both missed analyst estimates.
Yahoo`s second quarter revenues consists of $177 million coming from Asia, $775 from North America.
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