New Yahoo chief Bartz introduces pay freeze

LONDON - Yahoo is freezing the pay of its 13,700 employees this year as incoming chief executive Carol Bartz makes her first cost-cutting moves.

New Yahoo chief Bartz introduces pay freeze

According to reports, Yahoo, which will unveil its Q4 2008 results next week, has said it has frozen annual pay increases for its employees as the company faces the difficult ad market.

The measure comes just one week after Bartz was hired to engineer an upturn in the company's fortunes.

'Management decided this was the responsible thing to do - some workers still could get a raise this year if they are promoted to other jobs,' Yahoo is reported to have said.

Bartz, the former executive chairman of Autodesk, was hired to replace Jerry Yang, who stepped down to his former role of chief Yahoo in November last year.

Yahoo also announced that company president Sue Decker is to resign her role to move on to "other challenges", after working with Bartz to ensure a smooth transition.

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