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~$37M for the execs listed, vs 1100 workers laid off - probably mostly making under $100k. This is one of the rare cases in the layoff discussions where the ex
by onlyrealcuzzo 3y ago
~$37M for the execs listed, vs 1100 workers laid off - probably mostly making under $100k.
This is one of the rare cases in the layoff discussions where the exec salaries do seem quite excessive.
Hasbro had been averaging profits of around ~$250M for the last several years.
Paying ~5 people >10% of your profits is INSANE. Continuing to reward them handsomely as your profits drop from ~$250M to -$500M is REALLY INSANE.
Fire them. The new hires should be making 1/5th that or less.
And, yes, you can get someone competent to run Hasbro for $1M.
It's not a fusion reactor...
- Denvercoder9 3y agoNot saying the pay isn't outrageous, but most of the executive pay is in equity, which probably cost Hasbro next to nothing. They can't pay those laid off workers, probably making little more than minimum wage, with that.
- onlyrealcuzzo 3y ago> but most of the executive pay is in equity, which probably cost Hasbro next to nothing It's costing the investors who they work for that much money. It might not be impacting the balance sheet.
- mminer237 3y agoPaying in equity still dilutes your stock price therefore increases your loan costs. Plus, you could just sell more stock otherwise.
- pcthrowaway 3y ago> Hasbro had been averaging profits of around ~$250M for the last several years. > Paying ~5 people >10% of your profits is INSANE. Wouldn't profits be determined after wages are paid?
- onlyrealcuzzo 3y agoNo, they're paid in diluted stock, which does not impact the balance sheet.