Nice to see that the global economic problems are hitting everyone's pockets hard.
Morse! Shoved! Out of! Yahoo! Beneath! Giant! Golden! Parachute!
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 …
-
-
-
-
-
Thursday 18th October 2012 12:39 GMT wowfood
So
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."