Generally, employees expect to be paid more during their time at the company when they know that when they leave they aren’t going to get any sizable parting gifts. There’s nothing illegal about this clause, but what is getting a rise is that it appears Skype wasn’t exactly clear about it. Considering Skype’s success, this could be a very significant difference. He says compensation and stock policies were “very heavily tilted in the owners’ favor and against the employees.” He further says that the company is able to “‘repurchase’ any vested shares for anyone who leaves the company voluntarily or is terminated with cause.” Worse yet, the company gets them back for their original price – not what they are now worth. Lee was among the recently terminated employees let go in the wake of the Microsoft deal. The general consensus is that Skype wanted to make as much off of the deal as possible, and investors saw an opportunity to maximize the company’s value.įormer employee Yee Lee wrote a personal blog entry explaining the inner workings of Skype. And what Skype passed off as a “management decision” is being looked at very differently by industry insiders.
It felt like mere moments after the Federal Trades Commission gave its okay that Skype axed several of its top executives, seemingly trimming the company fat and getting rid of a handful of senior vice presidents - some of which had been with the company since its infancy. The Department of Justice has officially approved Microsoft’s acquisition of Skype, but negative attention continues to plague the company.
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