Fired at the bar? Former Yahoo worker sues
Michael Katz claimed the company publicly humiliated him to avoid paying the bonus he was promised after selling his online ad company.
Just after last week's kerfuffle involving CEO Marissa Mayer, her stance against telecommuting in favor of increased productivity and the ensuing opinion of just about everyone in the workforce who's ever started a shift in their pajamas, yet another Yahoo personnel move has found its way into public record.
Michael Katz, founder of the Interclick online advertising company acquired by Yahoo for $270 million in December 2011, prior to Mayer's hiring, claims in a lawsuit that the company tried to "humiliate" him by firing him in a bar a few months ago, according to The Associated Press. Oh, and there's the small matter of the first of three $1.3 million installments of his retention bonus he was scheduled to receive in January 2013, just weeks after he was let go.
Yahoo is already a vastly different company than it was in 2011, when then-interim CEO Tim Morse brought Katz aboard through the Interclick acquisition. Katz stuck around through Yahoo's game of CEO musical chairs and made enough of an impression on interim CEO Ross Levinsohn to earn praise as a "great visionary," according to the complaint.
Katz's relationship with Yahoo soured in December, when his lawsuit claims the head of human resources summoned Katz to a bar one Sunday night “while he was at home observing the second night of Hanukkah.” Katz says he thought it was an urgent business matter, and he wasn't entirely wrong. He was told he was being fired “effective almost immediately,” just weeks before Yahoo was slated to pay him the first of three $1.3 million retention bonuses he was slated to collect through 2016.
While it's understandably tough to earn a retention bonus when the company you're working for doesn't choose to retain your services, Katz's suit filed in the Supreme Court of the State of New York claims the "rushed termination clearly was structured and timed as an attempt to deprive him of the compensation he was promised during the merger negotiations.”
Mayer was brought in to shake Yahoo back to life, improve its revenue and restore its relevance to consumers. Employee satisfaction isn't key to any of those goals, but poking the company's well-fed bears is doing wonders for its profile and its share price, which is up more than 50% in the last six months.
Don't feel bad, once a pon a time. The coach of the Tampa Bay Bucs, was fired by the Glazer family via a post on the Buc's web-site.
Tony D ( bucs now former coach) found out when a local sports writer he was friends with call him at home and asked him for a comment......
Thankfully Tony is a classy guy, still lives in the Tampa area, and does a ton of charity work.....FU Glazer family.....And no, I haven't gone to nor watched a Bucs game sence....
Oh boo-hoo, the guy makes a couple hundred million and is upset for being fired at a bar.... Really?? Try being low to middle income and getting laid off numerous times throughout your career when tying to raise kids and pay bills on an average persons salary!!!!
Oh, please! The little guy gets screwed over 24/7 and you almost never hear about it. My hearts pumps purple piss.
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[BRIEFING.COM] The stock market finished an upbeat week on a mixed note. The S&P 500 added just over a point, holding its weekly gain at 1.0% while the Nasdaq lost 0.4%.
The major averages began the day on an upbeat note, but relinquished their opening gains during the first 90 minutes of action. The early sentiment was boosted by a better-than-expected nonfarm payrolls report for February (175K versus Briefing.com consensus 163K), but a closer look into the report suggested that ... More
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The solid report comes a month after the retailer closed all of its Canadian operations.
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