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

[unixronin.livejournal.com]

He has a point, and it's a good one.