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Not to be pessimistic but I assume when a CEO cuts their salary there are other forms of compensation like stock. Maybe someone here with more experience can we

Not to be pessimistic but I assume when a CEO cuts their salary there are other forms of compensation like stock. Maybe someone here with more experience can weigh in? Cutting $70k only helps one person keep their job. How many employees do they have? Anyways, I still applaud his desire to keep 100% of his employees. It is noble. Board and shareholders might disagree but it is nice to see someone looking out for the people ahead of the business in this time.

DoctorOW 7y ago
Did a little more poking around but he also gave up his stocks and savings according to this tweet: https://twitter.com/DanPriceSeattle/status/1233474662967005185 https://twitter.com/DanPriceSeattle/status/12334746629670051...
- nostromo 7y ago
  The article states that he did that in 2015. This tweet is retrospective.
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caycep 7y ago
I always wonder - when they calculate the dollars and cents of layoffs vs. hiring etc. Do they factor in the cost of losing employees, expertise, talent? There's probably financial value that's hard to model/capture in the balance sheet by retaining employees and building up the average years of experience in your workforce, etc.
- unlinked_dll 7y ago
  Short answer: yes Longer answer: it doesn't matter as much as you'd think. These companies making huge layoffs are facing an existential crisis, not slimming down for a revenue shortfall.
keanzu 7y ago
November 2015 120 employees He revealed to Inc. that he has sold all his stocks, emptied his retirement accounts, and mortgaged his two properties -- including a $1.2 million home with a view of Puget Sound -- and poured the $3 million he raised into Gravity. As majority owner, he is not exactly penniless. https://www.inc.com/magazine/201511/paul-keegan/does-more-pay-mean-more-growth.html https://www.inc.com/magazine/201511/paul-keegan/does-more-pa... He's the majority owner of Gravity
- deleted 7y ago
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DoctorOW 7y ago

Did a little more poking around but he also gave up his stocks and savings according to this tweet: https://twitter.com/DanPriceSeattle/status/1233474662967005185 https://twitter.com/DanPriceSeattle/status/12334746629670051...

nostromo 7y ago
The article states that he did that in 2015. This tweet is retrospective.

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caycep 7y ago

I always wonder - when they calculate the dollars and cents of layoffs vs. hiring etc. Do they factor in the cost of losing employees, expertise, talent? There's probably financial value that's hard to model/capture in the balance sheet by retaining employees and building up the average years of experience in your workforce, etc.

unlinked_dll 7y ago
Short answer: yes Longer answer: it doesn't matter as much as you'd think. These companies making huge layoffs are facing an existential crisis, not slimming down for a revenue shortfall.

keanzu 7y ago

November 2015 120 employees He revealed to Inc. that he has sold all his stocks, emptied his retirement accounts, and mortgaged his two properties -- including a $1.2 million home with a view of Puget Sound -- and poured the $3 million he raised into Gravity. As majority owner, he is not exactly penniless. https://www.inc.com/magazine/201511/paul-keegan/does-more-pay-mean-more-growth.html https://www.inc.com/magazine/201511/paul-keegan/does-more-pa... He's the majority owner of Gravity

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