i would like articles about layoffs to acknowledge if the ceo took a paycut or not. i know the answer is typically no, but i think journalists should make them say so
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two things i want to address: one, the “they’d still be rich” response - my sentiment is less about decreasing their wealth and more about codifying their failure and accountability in the press.
two, some self promo: i am starting my own very small, very different business, coming very soon!
ohhh i asked a CEO of a small startup i worked at once and he replied that him taking a pay cut wouldn't "move the needle" (he was laying off employees getting paid minimum wage, he was living in a high-rise in belltown)
Something like this came up in an all hands with Sundar once and he said something like "well I do face consequences when I screw up because I'm paid in stock and when I screw up the stock goes down". Don't think it went over well
Unity CEO said in a new Decoder-interview: "We as a management team do not think about trying to get financial leverage by doing layoffs. I hate that. I think it’s nonsensical."
Also: They should include recent stats on the company's net profits. I think a lot of people would be surprised at how many companies doing massive layoffs are also recording record profits even prior to the layoffs.
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two, some self promo: i am starting my own very small, very different business, coming very soon!
They can literally have no salary and be richer than the rest of the workers combined.
Wish more CEOs thought this way.