POLITICS & INSTITUTIONS - ECONOMY

Skype execs sacked



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Technology: Several Skype executives have been fired in advance of the Luxembourg-based technology firm’s takeover, reports Bloomberg.

Microsoft is paying US$8.5 billion for the Internet voice company, which is currently controlled by California private equity firm Silver Lake. Bloomberg says the move reduces the value of the executives’ stock options. Skype’s head of marketing, head of human resources and several vice presidents were among at least six sacked staffers, according to the wire service’s sources.

Microsoft announced the acquisition May 10 and the company hopes to complete the transaction by the end of the year.