336
CEOs' pay climbed before layoffs at tech giants like Alphabet and Microsoft, data shows (abcnews.go.com)
submitted 3 years ago by to c/worldnews@lemmy.ml
16 comments fedilink hide all child comments
 

cross-posted from: https://lemmy.zip/post/1125959

Archived version: https://archive.ph/iXnTL
Archived version: https://web.archive.org/web/20230806123650/https://abcnews.go.com/Business/ceos-pay-climbed-layoffs-tech-giants-alphabet-microsoft/story?id=101665156

all 16 comments

sorted by: hot top controversial new old
[–] 42 points 3 years ago (2 children)

What's extra insane about the google one, Pichai's salary of 225m divided over the 10k workers fired is a staggering 22.5k/yr. If you assume the average tech salary of a remote google employee is somewhere in the 50k-100k range, that's 2.5k-5k / 10k workers that could have been saved by cutting Pichai instead.

Forget societal ethics, how do you justify to shareholders cutting ten thousand salaries worth of jobs and giving half the money to the CEO?

  • permalink
  • fedilink
  • source
  • hideshow 4 child comments
    •
  • [–] 34 points 3 years ago (2 children)

    Because the shareholders get the other half

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 4 child comments
    •
  • [–] -2 points 3 years ago* (1 child)

    Isn't Pichai's compensation mostly tied to stock?

    It's... Not really the same thing, because being the CEO of the company ties the hands behind his back if he wants to actually use his stock compensation.

    Edit: for any Google SWE making <100k, just move to the US, man. The pay is so much higher it's not even funny.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
    • [–] 22 points 3 years ago (1 child)

    What will I take for workers to take action against stuff like this?

  • permalink
  • fedilink
  • source
  • hideshow 2 child comments
    •
  • [–] 39 points 3 years ago (2 children)

    Scarcity of food.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 4 child comments
    •
  • [–] 1 point 3 years ago (1 child)

    Well, if there was food hoarded by the wealthy, I'd agree with you. But I'm not sure. Much like storming the Bastille, it'd be more symbolic than anything.

    Billionaires have a big number on a piece of paper, but they don't really have anything of value to a revolution, so I think most of them would just end up on the street like anyone else.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 2 points 3 years ago

    I think their comment was more about how those content with bread and circuses will tolerate a lot more abuse in other ways to avoid risk losing those things. When doing nothing is punished by the stick of death, the other sticks seem a lot less intimidating.

  • permalink
  • fedilink
  • source
  • parent
    • [–] 20 points 3 years ago

    Gotta compensate the sadness of those CEOs who had to fire their dear employees.

  • permalink
  • fedilink
  • source
    •
    [–] 15 points 3 years ago

  • permalink
  • fedilink
  • source
    •
    [–] 5 points 3 years ago

    Not surprising at all. One thing I've also found hilarious is when companies list "never laid off a single employee" as a perk, lmao

  • permalink
  • fedilink
  • source
    •
    [–] 1 point 3 years ago

    Also can be last cash grab before leaving with a golden parachute, as industry doesn't feel healthy

  • permalink
  • fedilink
  • source
    •