Silicon Valley upbeat After Yahoo Cut Back, Nokia lays Off 700

more images

Yesterday we reported how Yahoo had cut 700 jobs in order to save costs. New research data has shown that this action was an exception from the present situation of the Silicon Valley companies. According to industry reports a vast majority of the Silicon Valley companies are actively procuring talent.

Even blogs such as mashable has been on a hiring binge and the focus seems to be firmly on the Social media services frontier. Following that Yahoo had cut jobs for the fourth time in 3 years it is expected that employee morale is on an all time low over there.

Following this news we have got another news that stated that Mobile giant Nokia will be laying off 800 jobs in Finland. The company announced the said cut back in October.

Severance package worth 5-15 months of the salary were announced. This is one of the grimmest holidays ever.