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Posts Tagged ‘Yahoo’

Former Yahoo COO Banks $58 Million Severance Package

moneyIf you’ve ever been laid off from a job, you’re familiar with getting a nice little severance package of several weeks and eligibility for COBRA benefits and unemployment.

Unless you’re the former chief operating officer of Yahoo, Henrique de Castro. Here’s why: reports are circulating that he’s banking on a $58 million severance package for a job he held for merely 15 months! Read more

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Marissa Mayer Reviews Resumes of Serious Candidates at Yahoo

Now that Marissa Mayer’s in charge of Yahoo as the new CEO, similar to Google’s co-founders, she’s reviewing every new hire before they walk in the door.

According to Business Insider, she reviews every serious candidate’s resume. One insider told the site the new change going all the way up the food chain isn’t exactly expediting the hiring process.

The source explained, ”It’s gotten a little frustrating.” After all, according to the site he lost two candidates due to timing.

He added, “I can’t say that I blame her.”

But maybe the change shows that executives really care about who walks into the door as a new employee? Previously it sounded like people weren’t too jazzed to work for the company. “I mean nobody gave a s— to come to Yahoo.”

So, technically he would follow Mayer’s footsteps if given the shot. He pointed out, “I’d want to review all the talent that comes in the doors, too.”

Lessons Learned Via Yahoo! CEO: Always Have an Accurate Resume

Always tell the truth. In life, in job searching, in everything.

By now you may have heard that Yahoo CEO Scott Thompson allegedly beefed up his resume with both a computer science degree and accounting degree even though he graduated with an accounting degree from Stonehill College. The matter is the resume was falsified and now his integrity is at stake.

Yahoo referred to the mistake as an “inadvertent error” and their board hired outside counsel to review the false statement. Regardless of the outcome, it seems the damage has already been done.

Here’s the thing about fudging a resume, no matter how big or small: It will come back to haunt you at some point. Background checks are in place for a reason and although this wasn’t caught initially, it eventually surfaced. Whatever you do in the job search process, if there’s anything to be learned from all of this, is to always tell the truth. Always be above board — whether it’s a degree, job title, length of employment, employer. Always, always, always.

John Challenger, CEO of Challenger, Gray & Christmas, an outplacement firm told CNN an “exhaustive” process isn’t always going to capture everything right down to the degree.

One falsification in your career may not seem like a big deal similar to telling someone an innocent little, white lie but in addition to catching up to you, it may inevitably be difficult to escape and in the end. Plus, the initial lie may eventually seem irrelevant to your accomplishments other than tarnishing your integrity. Forever.

The questions speak for themselves: Does the fact that he doesn’t really have a computer science degree impact his role as CEO? Not really. Does the fact that it was falsified reflect his integrity and reputation as a CEO? That would be a resounding yes.

Challenger pointed out in the piece: ”Yahoo hired him for what he’s done in the past five, 10 years. It doesn’t really matter for someone at this point in his career what he did at 22.”

He added, “He may have felt at some point in his career that he needed an extra something — and then he couldn’t get rid of it.”

Outgoing Slate Writer: “People Rarely Leave”

After eight years, Slate writer Daniel Gross has decided to try a new venture as a columnist for Yahoo Finance. But as he departed, he wrote quite the exit post. It’s not odd in that he reminisces about his time at Slate, but in how much he praises the online magazine.

The writers who held down this column before me handed over a great audience in the summer of 2002. Excellent editors, careful copy editors, and brilliant illustrators improved my work greatly.

Gross goes on to comment about the media at large. While his comments refer to Slate, it shows just how much the balance of power has shifted to the online world and the companies that have taken advantage of that change.

Slate has become one of those places that people rarely leave. That’s partly because the New York Times lacks the resources to poach Slate staffers as it did in the old days. But it’s largely because few places offer the combination of freedom, reach, prestige, playfulness, collegiality, and the ability to experiment. Slate combines many of the best qualities of the new media world and the old. It’s a place where good writing and writers still matter.

Now that’s an exit interview HR folks love to hear.

As Many As 500 Jobs Cut at Yahoo!

ylogo.jpgEven though they have a new chief executive, Yahoo isn’t safe from another round of layoffs. Though they lost close to 2400 employees last year, the search giant is still looking for ways to trim costs.

The cuts are said to take place in what CEO Carol Brazt deems “none essential” Yahoo entities, including sites like HotJobs, reports the New York Times.

The layoffs could affect several hundred employees and may be announced as early as Tuesday when Yahoo reports first-quarter financial results, said these people, who agreed to speak on condition of anonymity because the plan is confidential.

The company has recently resumed talks with Microsoft for potential sale.

Job Title To Watch: Digital Correspondent

Being a blogger forces you to be a multi-tasker. If you’re good at what you do, you not only write, but edit, photograph and sometimes even act as videographer and editor, all to create an engaging blog post. So how can you parlay that into a career?

Today the American Journalism Review has a story on Mara Schiavocampo, NBC‘s first digital correspondent. In April of 2006, Schiavocampo left her job as a television news anchor at New York City’s WRNN. Sensing a disconnect between the way news is/was produced and the way new audiences were demanding to receive it, she boarded a plane to Jordan and set out to carve out a niche for herself as the first international digital correspondent.

Combing video, photographs and blogs to tell a more complete story, Schiavocampo used peoples’ desire for increased media transparency and audience interaction to create reports that went beyond sound bites from an interview.

Find out how Schiavocampo eventually secured an official job with NBC and what it takes to become an international digital correspondent after the jump.

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Former AOL CEO Finds New Job With News Corp.

jonathan_miller_aol.jpgThe former head of AOL, Jon Miller, is joining News Corp in the new role of CEO, Digital Media reports BoomTown. In this capacity, Miller will oversee the global internet and mobile businesses as well as developing new digital strategies across all News Corp. sites.

Since 2006, Miller has been working with the venture capital firm Velocity, which he founded. This new role is an interesting turn as Miller is just emerging from his non-compete contract with Time Warner, which he has been under since he left the role of AOL CEO three years ago. Previously Miller was barred from taking a seat on Yahoo‘s board of directors by this same contract. Even now Miller can not officially take this new position heading News Corp’s digital media group as his contract is still binding for another three days. News Corp expects to officially announce Miller’s appointment on Tuesday or Wednesday. This is not the only battle Miller will have to face when it comes to News Corp. More on this after the jump.

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More Changes At AOL

Changes_next_exit.jpg
Since he was hired two weeks ago at AOL, everyone has been wondering what Tim Armstrong&#151 former head of advertising at Google and soon-to-be CEO of AOL as of April 7th&#151will do with the company. The first answer seems to be restructure.

In an effort to simplify and rid the company of redundancy, AOL announced today that it would be restructuring Platform-A, the division that primarily deals with sales and advertising.

In a memo from Platform-A head Greg Coleman&#151you may remember him as the former head of Yahoo ad sales, brought over to AOL by former CEO Randy Falco to reorganize the ad sales division in February&#151he announced that there would be “Execs moving in and out of musical chairs and fewer cooks in the kitchen.”

Read the entire memo about the restructure, reprinted by BoomTown, after the jump.

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