Zee Media Bureau
New Delhi/San Francisco: Yahoo Inc is reducing the size of its operations in Bangalore, India, the Internet company`s largest engineering facility outside its California headquarters.
Although numbers of employees being retrenched is not clear, however a paper quoting sources in the company said that Yahoo may lay off 300 staff. A few have been asked to relocate to Sunnyvale.
Yahoo has also offered a six-month severance package to the laid-off employees, the paper added.
The company said in a statement on Tuesday it was consolidating "certain teams into fewer offices" in Bangalore, but that it would continue to have a presence there.
The move comes more than a week after activist investor Starboard Value LP publicly pressured Yahoo to cut what it referred to as a "bloated" cost structure.
Yahoo, a one-time Internet pioneer, is trying to revive stagnant revenue growth under the leadership of Marissa Mayer, who took the helm as Chief Executive two years ago.
With Agency Inputs