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The plumber at the house with an overflowing toilet sure has some leverage, too.
I mean, not really. Every house has a main water shutoff valve. You can watch a 5 minute YouTube video on how to snake a toilet yourself. Or spend an hour installing a new toilet.
Yet CEO's bonus in 2022 was 20x bigger than his salary. I don't think it will be less this year either; with all-time high stock price and these "cost cuts", he will be wholesomely rewarded.
This kind of comment woups not have been here like 3 years ago. It was an amazing journey to watch HN denisens adjust their opinions as they went from creme de la creme and 'anyone can create a unicorn tonorrow' to, you know, being basically like a plumber but for JSON.
That said, this phenomenon should not be used to justify exorbitant executive compensation that is very out of line with what the positions lower on the totem pole are capable of getting. We do not need that kind of society.
And yet, at exactly this time last year: "Microsoft to Nearly Double Salary Budgets, Expand Stock Compensation" https://www.shrm.org/resourcesandtools/hr-topics/compensatio... So they are freezing after the doubling? This behavior seems skittish and an overreaction, especially given their continued profitability and high margins. Corporate executive behavior reminds me of interacting with ChatGPT: Exec: "What should…
It's about leverage, with all the faang layoffs, they now don't have to pay as much for employees.
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Right. Wealth and power are concentrated and do not need to be coordinated. Their individual actions and self-interests organically merge to maintain the state of affairs that keeps them wealthy and in power.
They kind of do. If Facebook and Google suppress their wages and some other company poaches their best people the buying cartel could easily fall apart. OPEC suffered from exactly this problem quite early on. It only takes a few defectors of sufficient size.
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Would you take a pay cut to save someone else's from being laid off in your company? It's a serious question, just curious, there is no right answer - I wouldn't, nor would I accept even a $1 cut in my pay - the day that happens is the day I give my notice. Not an option for everyone I know.
Do I get to choose who does and doesn't get laid off? I'm being facetious but I honestly don't know. I've become a softy in my old age. I can imagine how deeply awful it would be for a breadwinner with a home and kids. Even for people I work with that I don't particularly like, I wouldn't want to put them in that situation. Like a lot of Americans I've been experiencing a lot of envy for the more socialist European c…
I remember working in Europe, and going to the park during a week day and seeing all these parents, both Mum and Dad playing with their children in the sun with this kind of carelessness about them. I vividly remember being shocked at that scene. I’d never seen it before.
People would just go home from work and not “grind” away at their jobs.
I think given a few more years of “automation” and most Americans might think differently about free market capitalism. Maybe at that stage it’ll be too late to change to something better?
Europe is a kind or project too, it’s a work in progress. I think their systems will just improve over time.
And yet, at exactly this time last year: "Microsoft to Nearly Double Salary Budgets, Expand Stock Compensation" https://www.shrm.org/resourcesandtools/hr-topics/compensatio... So they are freezing after the doubling? This behavior seems skittish and an overreaction, especially given their continued profitability and high margins. Corporate executive behavior reminds me of interacting with ChatGPT: Exec: "What should…
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This is inaccurate. However if your sample is only people who are on Blind complaining, I can see how your data might be skewed in that direction.
It is accurate.
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Dividends should be a sign that a company has excess cash and can't find a good place to invest it. Paying a dividend while asking workers to take a pay freeze signals they don't believe the workers are returning enough value to justify paying them more.
What are stock buybacks, then? They're more employee hostile than dividends, that's for sure.
Why are buybacks more employee hostile than dividends?