Yahoo is laying off and recruiters are hearing the dinner bell
Check out this article from CNN Money. It features a quote from HR Celebrity - Craig Silverman. (Hey Craig! Let’s do lunch soon.)
Snip-snip
Silicon Valley recruiters have quickly ramped up their efforts to lure software developers, project managers and key executives away from Yahoo Inc. (YHOO) in the wake of Microsoft Corp.’s (MSFT) $44.6 billion offer to buy the struggling Internet giant.
Microsoft’s ability to retain Yahoo staff has been a key concern among Wall Street analysts, as well as at the company itself, should the software giant succeed in winning control of its target. But comments from recruiters suggest that Yahoo employees and other Silicon Valley companies already starved for talent aren’t waiting around for Microsoft to win over Yahoo’s management and board.
“Ninety percent of our clients are asking for Yahoo talent, particularly in the last two weeks,” said Bruce Brown, managing partner at executive search firm Daversa Partners.
Brown said recruiters have been targeting Yahoo employees for several months, but interest in the company’s 14,300 employees has increased in the wake of Microsoft’s proposed acquisition, which the software company hopes will give it the scale and technological prowess it needs to compete with Google Inc. (GOOG) in the Internet search and advertising market.
Craig Silverman, a partner at recruiting network and job exchange HireAbility.com LLC, said the rush to lure Yahoo talent is not unexpected given the uncertainty prompted by Microsoft’s unsolicited offer. Yahoo’s board on Monday rejected Microsoft’s bid, raising the prospect of a drawn-out takeover battle that could last months.
“Any time recruiters sense difficult times in a company, where there could be a merger or acquisition, there is a sharklike feeding frenzy in which recruiters become more focused on attracting people from that organization,” said Silverman.
Silicon Valley recruiters were not willing to discuss clients by name, but it was widely understood that most, if not all, of the industry’s largest companies were eager to tap into Yahoo’s talent pool. None of the top firms, including Google, Oracle Corp. (ORCL) and Saleforce.com Inc. (CRM) have publicly expressed interest in Yahoo employees.
Google said it had not changed its recruitment practices, while Oracle and Salesforce declined to comment.
READ: Silicon Valley Recruiters Zero In On Yahoo Employees
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