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. “

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