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They absolutely are. Companies spend huge amounts of time cutting out management fat, as they should. It's Darwinian. You either evolve or die. It's a good thi

They absolutely are. Companies spend huge amounts of time cutting out management fat, as they should. It's Darwinian. You either evolve or die. It's a good thing.

ceejayoz 2y ago
Management fat? Sure. C-Suite level? Nah. Boeing's last two failed CEOs left with tens of millions of dollars worth of golden parachute; we've seen a massive upwards trend in CEO pay over the last few decades. Musk got $44 billion for being a part-time CEO at Tesla, even.
- qeternity 2y ago
  CEO is the riskiest, high profile hire. Million dollar golden parachutes are a rounding error distraction. I'm not justifying them, but it's generally just contractual, and the cost of getting rid of a low performer (which is no different to the rank and file, just at a much lower unit cost).
  - ceejayoz 2y ago
    > CEO is the riskiest, high profile hire. How risky can it possibly be if three years of failure gets you $60M severance? What's the risk? Adam Neumann is a billionaire!
    - qeternity 2y ago
      Risky for the company, not for the individual. Hence why they are happy to pay what is, at the corporate level, a paltry sum to make a problem go away. It just happens to be a rather large sum at the individual level. A bad CEO can easily ruin hundreds of billions or trillions in value. Some tens of millions to be rid of the problem is a no brainer.
      - ceejayoz 2y ago
        > Some tens of millions to be rid of the problem is a no brainer. But... they can just be fired. Like the rest of us.
        qeternity 2y ago
        I think you misunderstand what a golden parachute is, or more accurately in this instance, what severance is. It's not some evil cabal gifting each other money. It's a contractual issue.
        ceejayoz 2y ago
        > It's not some evil cabal gifting each other money. Oh, they absolutely sit on each others boards and rubber stamp such packages. > It's a contractual issue. Yes. They should stop adding multi-million dollar golden parachutes for failures to said contracts.

They absolutely are. Companies spend huge amounts of time cutting out management fat, as they should. It's Darwinian. You either evolve or die. It's a good thing.

ceejayoz 2y ago

Management fat? Sure. C-Suite level? Nah. Boeing's last two failed CEOs left with tens of millions of dollars worth of golden parachute; we've seen a massive upwards trend in CEO pay over the last few decades. Musk got $44 billion for being a part-time CEO at Tesla, even.

qeternity 2y ago
CEO is the riskiest, high profile hire. Million dollar golden parachutes are a rounding error distraction. I'm not justifying them, but it's generally just contractual, and the cost of getting rid of a low performer (which is no different to the rank and file, just at a much lower unit cost).
- ceejayoz 2y ago
  > CEO is the riskiest, high profile hire. How risky can it possibly be if three years of failure gets you $60M severance? What's the risk? Adam Neumann is a billionaire!
  - qeternity 2y ago
    Risky for the company, not for the individual. Hence why they are happy to pay what is, at the corporate level, a paltry sum to make a problem go away. It just happens to be a rather large sum at the individual level. A bad CEO can easily ruin hundreds of billions or trillions in value. Some tens of millions to be rid of the problem is a no brainer.
    - ceejayoz 2y ago
      > Some tens of millions to be rid of the problem is a no brainer. But... they can just be fired. Like the rest of us.
      - qeternity 2y ago
        I think you misunderstand what a golden parachute is, or more accurately in this instance, what severance is. It's not some evil cabal gifting each other money. It's a contractual issue.
        ceejayoz 2y ago
        > It's not some evil cabal gifting each other money. Oh, they absolutely sit on each others boards and rubber stamp such packages. > It's a contractual issue. Yes. They should stop adding multi-million dollar golden parachutes for failures to said contracts.