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

submitted 1 year ago by BrikoX@lemmy.zip to c/worldnews@lemmy.ml

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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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[-] Dran_Arcana@lemmy.world 41 points 1 year ago

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?

[-] hellishharlot@programming.dev 32 points 1 year ago

Because the shareholders get the other half

[-] henfredemars@infosec.pub 7 points 1 year ago

This feels like one of those weird game theory problems where you have to solve for the minimum amount you would have to pay to ensure no one bothers to stop you.