LayoffBlog.com

December 10, 2008

Yahoo curbs severance pay in event of a takeover

According to AP: “In a move that could make it easier to negotiate a sale, Yahoo Inc. has overhauled a severance program that could have saddled potential buyers with a huge bill after a takeover.”

“Yahoo is laying off 1,500 employees, or about 10 percent of its work force, as part of a cost-cutting plan, but those firings weren’t covered by the severance plan created for takeovers. “

2 Comments »

  1. I think the main intention of the revisions to the severance plan were primarily to address a sale of their search business to Microsoft and to settle a pending investor lawsuit. Appendix B in the severance plan was amended to insert a precise statement related to the severance plan in the event of a sale of Yahoo’s search business.

    Comment by Tejus Trivedi — December 11, 2008 @ 7:20 am | Reply

  2. Big name tech talent in demand

    Times are tough in Silicon Valley with all the tech layoffs including big names like Yahoo! and Google, but smaller companies who are hiring are seeing something of a talent windfall. Blog posts about layoffs from big-name tech companies are full of comments from employers urging the newly unemployed to “get in touch”.

    “Not everyone laid off from the big tech companies is going to be a gem, but it’s clear that some talented people have been laid off and are now available for hire” says Scott Barnham, part of the team that recently launched layofftalent.com.

    “We started Layoff Talent after seeing a lot of good people laid off. The aim is to help them find new opportunities and give companies who are hiring a place to find newly available talent.”

    Comment by Scott Barnham — December 18, 2008 @ 7:46 am | Reply


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