Yahoo CFO pushing to gut severance packages
The latest rumor on Yahoo's upcoming cuts: As many as 1,750 jobs lost. But far worse than the number are Yahoo CFO Blake Jorgensen's plans for the departed. A tipster says Jorgensen is pushing for zero severance pay beyond what's legally required in a mass layoff. Compare that to eBay, which sprang for five months in its latest round of cuts. "Corporate politics — such a dirty game and the average Joe gets the shaft," our tipster writes. "Financially, I don't understand this because the market is going to shit and the Street would be forgiving if Yahoo decided to give the rank and file up to six months or so. Not to mention the people at Yahoo right now stuck with management through all the turmoil, although maybe that makes them too stupid to deserve severance in excess of unemployment checks. However once the political motives come into play it makes much more sense." Political motives?Zero severance would certainly evaporate any remaining support CEO Jerry Yang has within the company. But our tipster says Sue Decker, a close friend of Jorgensen's who hired him into the company, opposes his severance plans. So what's Jorgensen's game?