…if the deal goes through
Published: 30 April 2008 08:35 GMT
Microsoft plans to set aside $1.5bn for employee retention at Yahoo!, should it succeed in its unsolicited buyout bid for the internet search pioneer, according to court documents in a shareholder lawsuit cited by the Wall Street Journal.
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The documents include transcripts of a conference call hearing on 24 March between lawyers for Yahoo! and two Detroit-based pension funds. During the call, a Yahoo! lawyer noted Microsoft had informed the company it "earmarked $1.5bn for employee retention at Yahoo!," cites the Journal.
Yahoo!'s workforce stands at approximately 13,200, following layoffs of roughly 1,000 employees in early February. That translates into an average of $113,636 per employee.
Employees at Tellme Networks apparently did much better when they were acquired by Microsoft, averaging approximately $300,000 per worker, according to a report in the New York Times.
Original article: Report: Microsoft earmarks $1.5 billion to keep Yahoo employees from CNET News.com
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