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Microsoft $1.5Billion Yahoo Employee Retention Plan



1:12 pm on Apr 30, 2008 (gmt 0)

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Microsoft Corp has considered earmarking $1.5 billion to retain Yahoo Inc employees if it acquires the company, according to court documents in a shareholder suit filed against Yahoo.

The $1.5 billion figure was discussed in a communication between the general counsels of Microsoft and Yahoo, and came to light when a lawyer representing Yahoo mentioned the amount in a March 24 hearing in a lawsuit in Delaware Chancery Court.

Edward Welch, the lawyer representing Yahoo, also said during the hearing that 1,000 layoffs Yahoo made in February were the only job cuts the company planned to make. "There are no more reductions in force planned for the future," he said.

Microsoft $1.5Billion Yahoo Employee Retention Plan [uk.reuters.com]

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