My company has done 6 layoffs in the past 18 months, all because of a bad bet the previous CEO made. It’s amazing how one person can tank a company, cost 100s of people their livelihoods, and walk away with a golden parachute and a new job of equal level at another larger company.
I mean, have they not started? Pretty sure I lost my job earlier this week in a mass tech layoff, more to come next week.
The kicker is we saw the bad decision coming, we told them, we protested with all we had. They admitted that is was their fault, but now need layoffs.
100% of the executive team was kept on board, the.CEO saying that they have been punished enough with the stock price. So yeah, doesn’t matter who is to blame and if you caught them red handed, it would still be your fault. Theyre laughing at us.
vagrantprodigy@lemmy.whynotdrs.org 11 months ago
Cylusthevirus@kbin.social 11 months ago
I've only ever seen an executive be punished for one thing: bad mouthing the company. Anything else they skate on. Accountability and consequences are for the peons.
TWeaK@lemm.ee 11 months ago
Yes because making less profit is the same as losing your entire income.
RedditWanderer@lemmy.world 11 months ago
A lot of people are paid a decent part of their comp through stocks too, they almost double my salary over the 4 year vesting period.
spacecowboy@sh.itjust.works 11 months ago
No offence, but fuck shareholders. They’re a giant part of society’s woes.
qyron@sopuli.xyz 11 months ago
This is an ideal concept but for me a shareholder should be like a private financer that holds an interest on a company that gets sacked the moment the capital they lent is returned with interest.
I could not care less if a company I was invested in stated it was aiming to have a fixed yearly profit of X amount, no more, no less. That would send a clear message the company would be aiming for quality in their products/services and trust with their clients, with no funny ideas behind the scenes to squeeze pennies and dimmes in blood from the employees.
Oh, and as a shareholder, the last thing I would want would be a CEO or whatever chair aiming for bonus: you earn a salary, get benefits, that is it. If you get the boot, you are just another employee, not a rockstar.
RedditWanderer@lemmy.world 11 months ago
It’s free money for me, I don’t hold any other stocks, it’s just because they give them.
I signed a deal for 200k+ a year, and around 10k stocks (worth 250k at the time, worth 350k now).
Would you say no? Haha