Just a day after their massive layoffs began, Yahoo’s in the news again—and again, it’s not really the kind of story you want about your company. This time, Yahoo has reduced their severance stipulation for a merger or takeover, removing a possible barrier to acquisition.
According to the AP, the new plan will make it significantly more difficult for any employees laid off after a merger to receive the generous severance packages that were guaranteed to all of its then-14,000 employees while Microsoft was vying for the company:
Yahoo agreed to revisions that will make it more difficult for employees to qualify for severance pay after a takeover. The changes also limit the eligibility period to the first year following a sale and allows the board to scrap the plan entirely—an option that wasn’t available under the original terms.