"Yandex" reduces staff costs and changes the incentive program
RBC sources at Yandex report a 10% reduction in personnel costs by the company in 2015.
First of all, we are talking about freezing vacancies and dismissing a part of employees. New specialists in the current year will be hired only for the most promising areas, such as Yandex.Taxi. Over the past year, the number of developers in Yandex has grown by 14% and amounted to 2924 people, with a total staff of 5616.
The last 2 years, Yandex spends on staff from 16% to 22% of total revenue, last year, staff costs exceeded 10 billion rubles. The general director of the Russian office of Yandex, Alexander Shulgin, said that the bar for personnel costs of 20% is optimal for the company in the future.
Comparative schedule of the RBC publication
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Employee salaries will grow in the future at the level of official average annual inflation. The most valuable employees of the company, whose care could increase the risks in the work of Yandex, raise salaries and offer participation in incentive programs.
Vedomosti writes about changes in option programs - this year Yandex offered employees who own stock options (Stock Restriction Rights - SAR) to exchange them for RSU (Restricked Stock Units) that are not tied to the current quotes of the company's securities for Exchange and total capitalization. RSU - the right to free receipt of a certain number of class “A” shares traded on the stock exchange, and SAR - the right to purchase shares at a fixed price by the company (which is usually lower than the market price).
Yandex made such a move due to the continued decline in quotations of the company's shares on the NASDAQ site, where during the year their price fell by 49.4%. In order to preserve the value of the programs for the employees participating in them, Yandex suggested exchanging all the old options for new ones with a 2: 1 ratio (one SAR for two RSUs). The program of the westing (allocation of securities to the employee) also lasted for a year, from the previous 4 to the current 5 years until the full allocation of securities to a person.
The Yandex option program is designed for 10 years and 10% of the total number of shares issued by the company. On average, the income from the option is 40% of the total income of the rewarded employee. Currently, 17% of Yandex employees are participating in the stock option program.
In February 2015, Mail.ru Group launched a similar option exchange program , whose depositary IOUs on the London Stock Exchange lost 43.6% of the cost.
First of all, we are talking about freezing vacancies and dismissing a part of employees. New specialists in the current year will be hired only for the most promising areas, such as Yandex.Taxi. Over the past year, the number of developers in Yandex has grown by 14% and amounted to 2924 people, with a total staff of 5616.
The last 2 years, Yandex spends on staff from 16% to 22% of total revenue, last year, staff costs exceeded 10 billion rubles. The general director of the Russian office of Yandex, Alexander Shulgin, said that the bar for personnel costs of 20% is optimal for the company in the future.
Comparative schedule of the RBC publication
')
Employee salaries will grow in the future at the level of official average annual inflation. The most valuable employees of the company, whose care could increase the risks in the work of Yandex, raise salaries and offer participation in incentive programs.
Vedomosti writes about changes in option programs - this year Yandex offered employees who own stock options (Stock Restriction Rights - SAR) to exchange them for RSU (Restricked Stock Units) that are not tied to the current quotes of the company's securities for Exchange and total capitalization. RSU - the right to free receipt of a certain number of class “A” shares traded on the stock exchange, and SAR - the right to purchase shares at a fixed price by the company (which is usually lower than the market price).
Yandex made such a move due to the continued decline in quotations of the company's shares on the NASDAQ site, where during the year their price fell by 49.4%. In order to preserve the value of the programs for the employees participating in them, Yandex suggested exchanging all the old options for new ones with a 2: 1 ratio (one SAR for two RSUs). The program of the westing (allocation of securities to the employee) also lasted for a year, from the previous 4 to the current 5 years until the full allocation of securities to a person.
The Yandex option program is designed for 10 years and 10% of the total number of shares issued by the company. On average, the income from the option is 40% of the total income of the rewarded employee. Currently, 17% of Yandex employees are participating in the stock option program.
In February 2015, Mail.ru Group launched a similar option exchange program , whose depositary IOUs on the London Stock Exchange lost 43.6% of the cost.
Source: https://habr.com/ru/post/289202/
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