Printed from http://www.electronista.com

Yahoo had complete layoff plan ready for MS takeover

updated 07:50 pm EDT, Mon June 2, 2008

Yahoo compensation plan

As a Delaware Judge unseals court documents regarding Yahoo, it came to light that the search engine and online advertising giant was attempting to form a comprehensive coverage plan for its employees in the event of a Microsoft takeover. CNN Money reports that the plan would have added anywhere between $462 million to $2.1 billion to the original $44.4 billion offered by the Windows maker, another sign that Yahoo was trying to "poison the well" to dissuade future takeover attempts.

Under the plan, Yahoo CEO Jerry Yang outlined that each of the company's 13,800 employees would be covered by 100-percent equity acceleration in the event of a takeover. The president of Compensia - the firm Yahoo hired to draft the severance plan - Tim Sparks noted of the move "That's nuts," according to Silicon Alley Insider.

On May 28th, Yang announced a complete merger is out of the question, as Microsoft is no longer interested. Instead, the companies are exploring a partnership of sorts, pending Yahoo's comprehension of Microsoft's plans.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lacking ...

Sponsor

toggle

Most Commented

 
toggle

Popular News