Yahoo! freezes pay hikes
Yahoo! has decided to freeze salary hikes of its employees this year as the Internet major explores cost cutting measures to cope with the deteriorating global economic situation.
"Based on the current economic environment and our focus on keeping costs in line with revenues, we have decided that providing annual salary increases would not be in the best interests of the company or our shareholders," Yahoo! spokesperson based in the US Kim Rubey told PTI in an e-mail.
“This decision is consistent with our broader focus on strategically reducing Yahoo!s costs, an effort that has been underway for some time now. The decision was based on the current economic environment and our focus on keeping costs in line with revenues," Rubey said.
On the other hand, Yang had come under fire in the wake of the Internet major's reluctance for the $47.5-billion takeover offer from Microsoft, forcing the software giant to walk away from the bid. Later, the much talked-about proposed advertising deal with Google also collapsed.
"Based on the current economic environment and our focus on keeping costs in line with revenues, we have decided that providing annual salary increases would not be in the best interests of the company or our shareholders," Yahoo! spokesperson based in the US Kim Rubey told PTI in an e-mail.
“This decision is consistent with our broader focus on strategically reducing Yahoo!s costs, an effort that has been underway for some time now. The decision was based on the current economic environment and our focus on keeping costs in line with revenues," Rubey said.
On the other hand, Yang had come under fire in the wake of the Internet major's reluctance for the $47.5-billion takeover offer from Microsoft, forcing the software giant to walk away from the bid. Later, the much talked-about proposed advertising deal with Google also collapsed.
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