How Yahoo employees knew Marissa Mayer was about to fire some of them
AP
The company is calling the cuts a "restructuring" and not a layoff.
To many Yahoo employees, it felt like a classic layoff - the kind the company has gone through many times in the past two decades.
It felt like that early in the day, says one source.
The tell-tale sign?
Ominously reserved conference rooms.
Says a source: "Employees saw it coming when on getting to work 2-3 conference rooms in every floor were suddenly reserved for HR with all previously scheduled meetings in the room cancelled."
Another source said people were "shell-shocked."
The latest news on severance packages is that canned employees will get two months severance, plus one month for signing a termination agreement, plus one month's pay in lieu of bonuses. Effectively, that's four months pay.
We've heard some severance packages are lighter than that, so it's possible people are getting different deals.
A Yahoo spokesperson told us: "Our practice is to not comment on internal matters. We constantly make changes to better align our resources and investments with our strategic priorities."
Yahoo CEO Marissa Mayer is under lots of pressure to cut Yahoo costs. She has been since she took the job back in July 2012. Mayer has favored smaller cuts, like this week's, over broad layoffs.
Nicholas Carlson is the author of "Marissa Mayer and the Fight to Save Yahoo!"
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- Why are so many elite coaches moving to Western countries?
- Global GDP to face a 19% decline by 2050 due to climate change, study projects
- 5 things to keep in mind before taking a personal loan
- Markets face heavy fluctuations; settle lower taking downtrend to 4th day
- Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’