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New Yahoo CEO freezes salaries

by on23 January 2009

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Bartz starts cost-cutting

 

Yahoo employees were told Thursday that they can forget about their usual pay raises, but they can be glad about the fact that no further job cuts are planned at the moment.

The salary freeze is one of the first measures taken by recently appointed CEO Carol Bartz, who left Autodesk and got an $18 million salary to join Yahoo. A Yahoo spokesman said the management feels it "was the responsible thing to do". Some workers still might get a raise, but only if they're promoted.

Yahoo currently employs 13,700 souls, following a 1,500 cut last month, and no further cuts are planned. Although it's instituting a salary freeze, worker's can still be glad they're not seing their salaries cut, like AMD and Seagate employees.

More here.

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