Recent examples of companies increasing exec pay and firing workers?
Howdy y'all!
I'm compiling data, for "personal" use, of companies that have recently (within a couple years) increased executive pay while slashing their workforce/benefits/pay. Sources appreciated!
Thanks in advance!
In my wife's company they fired the execs and didn't increase the pay for the workers. Instead the capitalists are keeping the saved money to themselves.
In the end the CEOs are also just workers with a extremely high salary but a salary nevertheless. The capitalists are the owners of the company and they extract as much money from the workers as possible. But yeah to be fair the CEOs are the ones helping them to do that.
Owners and investors benefit the most from taking advantage of their employees, but upper level management in large corporations tend to be significantly overpaid and incentivized to screw the people underneath them.
I would have a bit more sympathy towards CEO if they both weren't paid 10x the salary of the lowest paid employees and given bonuses tied to company growth and profit.
I think a shorter list would be companies that haven't done this.
Virtually all of them
Starbucks literal,y just increased the CEO pay by something like 90milkion and laid off over a thousand workers.
Don't quote the figures it's from memory but I read about it just yesterday somwhere so well worth a look !
I don't have sources but as it was so recent, it's easily searchable. But meta slashed their workforce recently and gave their execs huge bonuses for it.
is anything that is a "corporation" a valid answer? that's pretty par for the course sadly. Once you hit public trade usually is when it happens
Might be easiest just to look up which ones aren't publicly traded on the stock market - which are the only ones that might not be doing that crap.