Golden parachute

[unixronin]

In the wake of Microsoft's unsolicited bid to buy out Yahoo, Yahoo has set out a golden parachute scheme for Yahoos.

The parachute, or cushion, will kick into effect should that employee lose his job within two years after a new owner takes over, should she get terminated without cause, or if the employee decides it's time to leave for "good reason."

The golden parachute also includes health and dental coverage for the length of employees' severance awards, as well as reimbursement of outplacement services up to two years, or a maximum of $15,000, depending on job title.

This bodes well for both Yahoo and Microsoft.  Yahoo wants to retain its workforce, whether it prevails over any hostile takeover attempt, or whether it walks down the aisle to a friendly merger with a desired suitor.

One could also (more cynically) say, Yahoo wants to protect its employees in the event that Microsoft takes over Yahoo and either starts laying Yahoos off left and right, or screws the pooch badly enough that Yahoos start saying "Fuck this shit, I'm out of here."

Comments

[house-pundit.livejournal.com]

Heh. I see it as a poison pill designed to make Yahoo a less attractive target for hostile takeover. Brilliant.

"So you think you're going to come in here and get economies of scale by the usual takeover tactic of retaining our people only long enough to fly yours in and have ours show them the ropes? Think again, assholes. How much money do you think we're worth to you now?"

[bikergeek.livejournal.com]

Yeah, that was my interpretation as well.

[unixronin.livejournal.com]

Heh. I hadn't thought of it that way, but you could well be right there too.