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In every HN thread about layoffs, there is some number of comments that are written as: "It's good that the company paid [nearly unfathomable severance benefit

In every HN thread about layoffs, there is some number of comments that are written as: "It's good that the company paid [nearly unfathomable severance benefits], but what ACCOUNTABILITY is there?" My brother in Christ, the accountability is that the company is paying unfathomable severance benefits, watching their stock price tank, and getting dragged in the public sphere. What would you like the CEO to do? Quit?

valeness 4y ago
> What would you like the CEO to do? Quit? Yep
- prasadjoglekar 4y ago
  That's for the board to do. If they're taking their responsibility seriously and feel like the CEO is no longer capable. See also: AMC and Disney in the last 10 days.
  - erehweb 4y ago
    If I understand DoorDash's corporate structure, the founders have dual-class stock and voting control, so board could not remove them.
  - valeness 4y ago
    If the CEO is taking responsibility upon himself for leading his company in such a poor way he has to fire large swaths of people then he should quit. He's the CHIEF, the buck stops with him. What, is he going to keep his job and then just be a better CEO next time? He gets to make a hundred million dollar mistake and keep his job? I've seen peers fired for much less. The real answer is he doesn't take responsibility for anything other than doing his job exactly as expected and prioritizing short term profits for stakeholders. Either quit, because you're a bad CEO, or do away with this "I'm taking responsibility" facade. Just be upfront with it. "I fired you to make a quick buck." I can at least respect the honesty there.
willcipriano 4y ago
Put it this way, if the company was wildly successful how much credit does the executive team take for itself? Now in a downturn, you take that much blame. So if you took a huge bonus for all your leadership during the pandemic, I don't see why you shouldn't lose your job when your lack of leadership did the opposite. Either you were responsible or you weren't. You choose to "be in charge" only on the upside.
rmk 4y ago
Why not? Is it very difficult to countenance a founder who has 'got his' leaving to make way for someone who has a little more ethics? Every single one of these CEOs hired an untold number of people full-time during the pandemic, and then discarded them just a year or so after said binge. They knew the game they were playing, only they pretend to be paragons of virtue and write meaningless blather about it.
ddalex 4y ago
- deleted 4y ago
  [deleted]
- xdavidliu 4y ago
  not really, it’s just a rhetorical flourish. Ignore it if it bothers you.
throwaway5959 4y ago
Yeah actually, it used to be if a CEO did a shitty job they were fired.
dannykwells 4y ago
Yes.
aeze 4y ago
Yes. Or at least take zero pay/bonuses until they can turn the company around.
- refurb 4y ago
  Should you give your compensation back if you fail to deliver on a big project?

valeness 4y ago

> What would you like the CEO to do? Quit? Yep

prasadjoglekar 4y ago
That's for the board to do. If they're taking their responsibility seriously and feel like the CEO is no longer capable. See also: AMC and Disney in the last 10 days.
- erehweb 4y ago
  If I understand DoorDash's corporate structure, the founders have dual-class stock and voting control, so board could not remove them.
- valeness 4y ago
  If the CEO is taking responsibility upon himself for leading his company in such a poor way he has to fire large swaths of people then he should quit. He's the CHIEF, the buck stops with him. What, is he going to keep his job and then just be a better CEO next time? He gets to make a hundred million dollar mistake and keep his job? I've seen peers fired for much less. The real answer is he doesn't take responsibility for anything other than doing his job exactly as expected and prioritizing short term profits for stakeholders. Either quit, because you're a bad CEO, or do away with this "I'm taking responsibility" facade. Just be upfront with it. "I fired you to make a quick buck." I can at least respect the honesty there.

willcipriano 4y ago

Put it this way, if the company was wildly successful how much credit does the executive team take for itself? Now in a downturn, you take that much blame. So if you took a huge bonus for all your leadership during the pandemic, I don't see why you shouldn't lose your job when your lack of leadership did the opposite. Either you were responsible or you weren't. You choose to "be in charge" only on the upside.

rmk 4y ago

Why not? Is it very difficult to countenance a founder who has 'got his' leaving to make way for someone who has a little more ethics? Every single one of these CEOs hired an untold number of people full-time during the pandemic, and then discarded them just a year or so after said binge. They knew the game they were playing, only they pretend to be paragons of virtue and write meaningless blather about it.

ddalex 4y ago

deleted 4y ago
[deleted]
xdavidliu 4y ago
not really, it’s just a rhetorical flourish. Ignore it if it bothers you.

throwaway5959 4y ago

Yeah actually, it used to be if a CEO did a shitty job they were fired.

dannykwells 4y ago

Yes.

aeze 4y ago

Yes. Or at least take zero pay/bonuses until they can turn the company around.

refurb 4y ago
Should you give your compensation back if you fail to deliver on a big project?