Bangalored is a neologism used as a verb. Bangalored is used to indicate a layoff, often systemic, and usually due to corporate outsourcing of the business function to lower wage economies. The word is derived from Bangalore in India, which was one of the first places to outsource centers for Western economies.
It refers to people who have been laid off from a multinational company because their job has been moved to India or elsewhere — a business practice designed to save money that is arousing passions in some developed countries, especially Europe and the United States. Bangalore is cited in particular because of its reputation as a high-tech city, and widely regarded as the Silicon Valley of India and it has benefited significantly from such outsourcing.
FYI, Neologism stands for a newly coined term..
-- An excerpt from Wikipedia.org