4 ms·

> The company said it would cost between $20 million and $30 million to fix these issues and decided to cut about 6% of its staff. > Spence, in October, had ac

by jgrowl 2y ago

> The company said it would cost between $20 million and $30 million to fix these issues and decided to cut about 6% of its staff. > Spence, in October, had acknowledged mistakes surrounding the app's release and said that he and seven other company leaders would forgo their bonuses. People out of a job because of you and you're gonna forgo your bonuses. > Spence, whose total compensation was $5.19 million in fiscal 2023, took a roughly $72,000 cash bonus.

deleted 2y ago
[deleted]
x0x0 2y ago
> People out of a job because of you and you're gonna forgo your bonuses. Well, the board seems to have fired him too?
- soperj 2y ago
  are you really fired when you get nearly $2 million in severance?
  - elp 2y ago
    For a CEO of a public company this is about as close to a perp walk with your stuff in a cardboard box as it gets.
    - beezlebroxxxxxx 2y ago
      Don't worry, they'll fail upwards like many other executives who leave dumpster fires behind them. Remember, though, conveniently, according to other executives, there's "only a limited number of people with the skills to be CEOs! So we have to pay them so much!"
      - Wolfenstein98k 2y ago
        CEOs who resign in disgrace do not actually do that well. Even on PR terms alone, it's a bad look to hire one as your CEO, even if they can make a good case that they "fell on their sword" rather than actually caused the catastrophe.
        potamic 2y ago
        Are there examples of this?
    - bigstrat2003 2y ago
      You're right... but it's also not at all close to that.
    - timewizard 2y ago
      Yea. Poor guy. Having to stuff $2 million dollars into a measly cardboard box. I'll be he feels very chagrined and therefore I can relate to him now. :|
    - anon7000 2y ago
      I imagine it hurts his reputation going forward, but $2M is enough to immediately retire on and live a comfortable (but not exorbitant) life
  - saaaaaam 2y ago
    $2 million plus his unvested shares. Plus the millions he’s made over his time as CEO. I reckon he will be just fine.

by jgrowl 2y ago

deleted 2y ago

[deleted]

x0x0 2y ago

> People out of a job because of you and you're gonna forgo your bonuses. Well, the board seems to have fired him too?

soperj 2y ago
are you really fired when you get nearly $2 million in severance?
- elp 2y ago
  For a CEO of a public company this is about as close to a perp walk with your stuff in a cardboard box as it gets.
  - beezlebroxxxxxx 2y ago
    Don't worry, they'll fail upwards like many other executives who leave dumpster fires behind them. Remember, though, conveniently, according to other executives, there's "only a limited number of people with the skills to be CEOs! So we have to pay them so much!"
    - Wolfenstein98k 2y ago
      CEOs who resign in disgrace do not actually do that well. Even on PR terms alone, it's a bad look to hire one as your CEO, even if they can make a good case that they "fell on their sword" rather than actually caused the catastrophe.
      - potamic 2y ago
        Are there examples of this?
  - bigstrat2003 2y ago
    You're right... but it's also not at all close to that.
  - timewizard 2y ago
    Yea. Poor guy. Having to stuff $2 million dollars into a measly cardboard box. I'll be he feels very chagrined and therefore I can relate to him now. :|
  - anon7000 2y ago
    I imagine it hurts his reputation going forward, but $2M is enough to immediately retire on and live a comfortable (but not exorbitant) life
- saaaaaam 2y ago
  $2 million plus his unvested shares. Plus the millions he’s made over his time as CEO. I reckon he will be just fine.