Microsoft plans to set aside $1.5 billion 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.
The documents include transcripts of a March 24 conference call hearing between attorneys for Yahoo and two Detroit-based pension funds. During the call, a Yahoo attorney noted Microsoft had informed the company that it "earmarked $1.5 billion 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. … Read more