The Internet company thought it would have to spend as much as $145M on severance costs back in early April when it laid off 2,000 employees. But the cost could go to $200M, Yahoo says this afternoon in an SEC filing. That comes to as much as $140M in pre-tax cash charges for severance pay and related cash expenditures, plus a maximum of $60M in what it calls “facilities, lease, and other charges, net of credits related to stock-based compensation expense.” Yahoo already accounted for $127M of its lay-off expenses in its Q2 earnings report. The remaining $70M or so will hit the books sometime over the next 11 months. Yahoo’s filing repeats the chillingly vague and Orwellian phrase it used in April to describe the firings, saying that employees were “terminated as part of an overall plan to reshape the Company for the future.”
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This article was printed from http://www.deadline.com/2012/07/yahoo-layoffs-cost/
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