As a part of its ongoing cost-cutting exercise, Yahoo laid off 600 employees from its engineering and product development division. Yahoo India R&D centre in Bangalore was considered as the second largest Yahoo offices outside the US, before the lay-off.
Despite the massive lay-off, Yahoo India executives said that the R&D center will still continue to operate, but with better efficiency.
Yahoo said via a press release,"As we ensure that Yahoo! is on a path of sustainable growth, we're looking at ways to achieve greater efficiency, collaboration and innovation across our business. To this effect, we're making some changes to the way we operate in Bangalore leading to consolidation of certain teams into fewer offices. Yahoo! will continue to have a presence in India and Bangalore remains an important office."
Yahoo! ex-employees were said to be receiving a severance package for a period of 5 and 10 months, but will be still working until November 7th.