Yahoo confirmed today that a full scale salary freeze has been put in place due to the less-than-stellar performance of Yahoo over the last year (err 8 years since their stock reached its high in 2001), and of course the recession that is simply killing off one company after another. This isn’t really shocking news, as I’m sure it will be just the first of many cost-cutting actions Yahoo will take over the next few months as Bartz takes measures to ressurect the company, earning her full $19M along the way of course.
Here is what the company spokes person, Brad Williams had to say:
“Our management decided this was the responsible thing to do. Some workers still could get raise this year if they are promoted to other jobs.”