You are reading it here first: We have got information from several reliable sources informing us that Yellojobs India which had its office in Noida is shutting all operations and laid off all the staff. We tried calling on the helpline numbers for employers and candidates given on the site but both are switched off. We have tried calling their PR representative as well but have not been able to get through. We spoke to the ex-GM of YelloJobs Vikramjit Singh Sahaye who informed us that he had quit Yellojobs in end of February and moved on to join elsewhere. He refused to comment on the status of yellojobs to us.
But as per our information Yellojobs referral model never really took off in a big way and they were in deep trouble since the recession hit the indian economy around october last year. We are also told that during the same time their mother company yello media was looking to raise funds but failed to do so and hence the lack of funding has caused them to pull the plug. Our sources also updated us that most of the employees had not been paid salaries since 3 months and a shut down was eminent.
Yellojobs entered India through a partnership with NDTV media for NDTV jobs and a year later decided to discontinue the partnership and go on its own. Since then the job market started to tank due to recession and even bigwigs like naukri stated that a slowdown in the jobs market is eminent.
YelloJobs is a part of Yello media a bangkok based firm which owns classifieds across Thailand, Singapore, Malaysia, Philippines, Indonesia, Vietnam and India. We have been told that Yellojobs is looking for a suitor to buy out its India business and has currently stopped all operations in India. Whether they are managing the website from out of India in the meanwhile isn’t confirmed.