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Regardless 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
by throwaway743 7y ago
Regardless 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 7y 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 7y 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 7y 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 7y 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 7y 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.