Nice to see that the global economic problems are hitting everyone's pockets hard.
Yahoo's sacked chief financial officer Tim Morse is going to get a nice little package for his "termination without cause". Morse, who briefly stood in as interim CEO after ex-chief Carol Bartz got the boot, was himself shown the door by ex-Googler and current top dog Marissa Mayer in September and immediately replaced by …
Were all in this together.
He's worth every penny...
...if he can make Yahoo! look like a sensible investment
Obviously not involved in hiring his successor
...With those wage and bonus increases
Re: Obviously not involved in hiring his successor
I agree. According to the numbers, Yahoo! must be doing much better than it was when Morse was hired.
Otherwise they wouldn't be firing him.
Doesn't it hurt?
when a giant golden parachute hits you on the head after landing.
One would almost hope so
Imagine how much he would have got had he been successful.
the same :)
The people who actually make the companies run get "let go" and pretty much get a big "fuck you" for working there so many years. These are people who are living on a low budget anyway.
The CFO and other CO folks at the top earn more in a year than most of the pupulation will earn in a lifetime, and upon their severance they're paid double that again.
Such a lovely world we live in. And they wonder why all these big companies are going broke.
"Hmm, we're losing 5 million each year... We could slash the earnings of our top 5% by 10% to make back this loss, and still keep all our staff hired. Or we could fire a few thousand people on the bottom rung, make the remaining people work twice as hard, and then, when we realize we don't have enough staff to actually keep productivity high enough fire the current top 5% for poor performance, while paying out even more in redundancies, and then hire people to replace them with a starting bonus, and even higher wages.
Firing the few thousand it is."
We could slash the earnings of our top 5% by 10% to make back this loss, and still keep all our staff hired
See, that sounds so tempting, doesn't it? Unfortunately, if you tell your high performing sales staff that their commission is going down 5%, they'll just leave.
And Yahoo! has high performing sales staff?
$4 billion in revenue doesn't just appear.
Feel sorry for the chap, actually.
Just don't know how he is going to manage on $7.65 million in severance pay.
Me next, Please. Me! Me! Me!
Can I be CEO of Yahoo! next please? Oh, can I? Just for a few months... I won't even do anything, promise!
In fact, I'll even work for free, but not without the severance pay.
Don't bother with the stock options, though.