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The same could be said about a CEO who cuts everybody with 10% and gets a huge bonus at the same time. I'm not disagreeing with you, though.
by cerberusss 6y ago
The same could be said about a CEO who cuts everybody with 10% and gets a huge bonus at the same time. I'm not disagreeing with you, though.
- Kiro 6y agoIt was not at the same time. The bonus was paid in December, before the pandemic.
- cerberusss 6y agoThanks, that makes things different. I should've looked better at this particular case!
- throwaway743 6y agoRegardless of timing or events, the 30mil individual bonus was still taken while 10% of employee's salaries were cut. That's excessive and a slap in the face to those employees.
- Kiro 6y agoNo-one could have predicted this pandemic and the drastic measures companies have to take. When they paid the bonus they had no idea they would have to cut salaries a few months later. The timing is essential since one event happened before the pandemic and one afterwards. We could argue about bonuses in general but that's a whole different topic.
- jazzyk 6y agoBut perhaps, just perhaps, the CEO could take $2M as bonus and save $28M for a rainy day? A rainy day will arrive sooner or later - whether it is a pandemic or an economic crisis or a dry spell in additional funding, etc.
- Kiro 6y agoI agree but that's a whole different discussion. We can criticize bonuses in general but making this company a particular scapegoat is just wrong.
- jazzyk 6y agoI am not sure what is so particular about this company that the CEO deserved 30M, while neglecting to have a rainy-day fund, just like any reasonable business should. With 30M of bonus, it does not seem like the company was struggling last year?
- Kiro 6y agoI don't think any bonus at that level is deserved but just look at how many healthy companies that apparently didn't have a rainy-day fund and are already struggling.
- buckminster 6y agoSo the bonus has been returned?
- Kiro 6y agoMaybe? The discussion has derailed from a misrepresentation of facts to people holding on to their anger and finding unrelated ways to slander the company. They gave a bonus, then corona hit and they had to cut salaries, like so many other companies have. If you ask me I think all bonuses should be returned but again, nothing uniquely evil about this company.