Yahoo! has decided to freeze salary hikes of its employees this year as the Internet major explores cost cutting measures to cope with the deteriorating global economic situation.
"Based on the current economic environment and our focus on keeping costs in line with revenues, we have decided that providing annual salary increases would not be in the best interests of the company or our shareholders," Yahoo! spokesperson based in the US Kim Rubey said in an e-mail.
Rubey noted that the freeze on salary hikes would be "in place through 2009".
The latest move comes in less than two weeks after Carol Bartz took over as the Yahoo! Chief Executive from its founder Jerry Yang.In 2008, Yahoo!'s global headcount stood at 15,000 and of them, around 1,500 employees are in India.
--Gopi
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