Skype Ditches Execs to Save Cash Before Microsoft Merger
You no doubt know that Microsoft has acquired Skype in an $8.5 billion deal, and the merger between Skype and Microsoft hasn’t been completed yet, but it appears that Skype is making sure the merger doesn’t cost them too much in payouts to executives by doing the dirty and firing execs ahead of the merger.
According to an article over on Ubergizmo, a report by Business Week has it that Skype has fired VP’s Don Albert, Russ Shaw, Christopher Dean, and David Gurle, along with the head of human resources Anne Gillespie, and CMO Doug Bewsher and the two execs responsible for the Qik purchase, Allyson Campa, and Ramu Sunkara.
Apparently the reason Skype has fired these executives is because if these executive were to remain until the Microsoft merger their stock options would be worth more and that would mean their payout if they stayed until the merger was complete would be more.
Kicking said execs onto the unemployment line ahead of the merger means their stock options are worth less so wont eat into the $8.5 billion too much. However there are no details as to whether the fired Skype executives were forewarned or if they received a golden handshake for going early.