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CEOs' pay climbed before layoffs at tech giants like Alphabet and Microsoft, data shows (abcnews.go.com)

submitted 11 months ago by [email protected] to c/[email protected]

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cross-posted from: https://lemmy.zip/post/1125959

Archived version: https://archive.ph/iXnTL
Archived version: https://web.archive.org/web/20230806123650/https://abcnews.go.com/Business/ceos-pay-climbed-layoffs-tech-giants-alphabet-microsoft/story?id=101665156

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[–] [email protected] 42 points 11 months ago (6 children)

What's extra insane about the google one, Pichai's salary of 225m divided over the 10k workers fired is a staggering 22.5k/yr. If you assume the average tech salary of a remote google employee is somewhere in the 50k-100k range, that's 2.5k-5k / 10k workers that could have been saved by cutting Pichai instead.

Forget societal ethics, how do you justify to shareholders cutting ten thousand salaries worth of jobs and giving half the money to the CEO?

[–] [email protected] 34 points 11 months ago (2 children)

Because the shareholders get the other half

[–] [email protected] 2 points 11 months ago

If I were a large shareholder, I'd demand a lot more than half goes to growth or my own dividends.

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