4 ms·

So they laid off or furloughed 10000 staff, but cancelled pay cuts for management? Well, I know one rental company I’ll never buy from...

fxtentacle 6y ago
I also thought this is as damaging a quote as it gets "The company had cut pay for senior leaders in March, too, but reversed that decision recently." So they'll be flying into bankruptcy with a golden parachute.
- londons_explore 6y ago
  If you know your company is about to go bankrupt in a few months, and they tell you your salary is being halved, and your share options are now worthless, you'd leave right away too. Management staying on to do a more careful windup of the business and protect assets from theft or other losses is probably money well spent.
  - namdnay 6y ago
    The fact that it might be a rational business decision doesn’t mean that it isn’t also an indicator of a diseased company culture. I can’t imagine my employer announcing that 10k jobs will be cut but senior management keeps full pay...
    - chrisseaton 6y ago
      > an indicator of a diseased company culture Well yeah the company is as diseased as it could be - it's dying. Why would they care what you or their employees think about their culture? The customers are gone and they're firing the employees. They're protecting as much of the investment as is left at this stage.
      - namdnay 6y ago
        I meant the culture is diseased. You could have a company with a healthy culture that ends up in a very bad situation and deals with it in a more ethical way. See Airbnb. Can you imagine accepting to fire half your staff and still getting full pay?
        deleted 6y ago
        [deleted]
        deleted 6y ago
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dredmorbius 6y ago
As a downstream comment notes, this is a retention sweetener for an orderly transition or shutdown. The optics aren't great, but the reasoning is fairly defensible.

4 ms·

So they laid off or furloughed 10000 staff, but cancelled pay cuts for management? Well, I know one rental company I’ll never buy from...

by namdnay 6y ago

fxtentacle 6y ago
I also thought this is as damaging a quote as it gets "The company had cut pay for senior leaders in March, too, but reversed that decision recently." So they'll be flying into bankruptcy with a golden parachute.
- londons_explore 6y ago
  If you know your company is about to go bankrupt in a few months, and they tell you your salary is being halved, and your share options are now worthless, you'd leave right away too. Management staying on to do a more careful windup of the business and protect assets from theft or other losses is probably money well spent.
  - namdnay 6y ago
    The fact that it might be a rational business decision doesn’t mean that it isn’t also an indicator of a diseased company culture. I can’t imagine my employer announcing that 10k jobs will be cut but senior management keeps full pay...
    - chrisseaton 6y ago
      > an indicator of a diseased company culture Well yeah the company is as diseased as it could be - it's dying. Why would they care what you or their employees think about their culture? The customers are gone and they're firing the employees. They're protecting as much of the investment as is left at this stage.
      - namdnay 6y ago
        I meant the culture is diseased. You could have a company with a healthy culture that ends up in a very bad situation and deals with it in a more ethical way. See Airbnb. Can you imagine accepting to fire half your staff and still getting full pay?
        deleted 6y ago
        [deleted]
        deleted 6y ago
        [deleted]
dredmorbius 6y ago
As a downstream comment notes, this is a retention sweetener for an orderly transition or shutdown. The optics aren't great, but the reasoning is fairly defensible.