“Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”
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Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”
#2*laying off our 0 employees
Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”
#3Sounds like how it should be. Business owners are taking the risks, but also profit more in good times.
Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”
#4Not to be pessimistic but I assume when a CEO cuts their salary there are other forms of compensation like stock. Maybe someone here with more experience can weigh in?
Cutting $70k only helps one person keep their job. How many employees do they have?
Anyways, I still applaud his desire to keep 100% of his employees. It is noble. Board and shareholders might disagree but it is nice to see someone looking out for the people ahead of the business in this time.
Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”
#5Stewart Butterfield (Slack CEO) was asked if he'd commit to not doing layoffs and I appreciated his response[1]. Effectively pointing out that it's easy to just say yes in their position, and that it's presumptuous of Salesforce to be asking for no-layoff pledges. It's pretty meaningless and comes off as shallow or self-serving PR for types of businesses that are doing better than ever right now or can easily weather the event.
The CEO of Texas Roadhouse, a chain of restaurants, gave up his salary and bonuses to redirect to employees[2]. A particularly noteworthy example, I think.
Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”
#6Sounds like how it should be. Business owners are taking the risks, but also profit more in good times.
These days I wold argue that especially in small businesses and startups the first employees are the real risk takers. The owners/founders will usually find a way to get some money when a company is failing while the employees get nothing.
Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”
#7What I've been hearing on the internet is that companies are racing to lay off as many people as they need to now, before applying for their free bailout money from the government. It also sounds like businesses are trying to lay off more than they actually need to lay off, in order to get the maximum benefit.
The terms of the bailout loans are such that they can lay off people before they apply, get the money, and so long as they don't lay off any additional people after they get the money, the loan converts into a grant (i.e., a free bailout from the Federal government).
My personal opinion is that giving free money to companies is a terrible idea, and they should just give helicopter money to individuals. Companies are going to engineer this to their maximum benefit, and the amount of money going to companies is much much greater than the amount going to individuals.
Interesting times we live in. It's important to ignore what people say, and instead focus on what they actually do.
Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”
#8Sounds like how it should be. Business owners are taking the risks, but also profit more in good times.
These days I wold argue that especially in small businesses and startups the first employees are the real risk takers. The owners/founders will usually find a way to get some money when a company is failing while the employees get nothing.
How are owners of small businesses able to make money while their company fails? I would like to know because I plan on starting a business in the coming year.
Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”
#9Not to be pessimistic but I assume when a CEO cuts their salary there are other forms of compensation like stock. Maybe someone here with more experience can weigh in? Cutting $70k only helps one person keep their job. How many employees do they have? Anyways, I still applaud his desire to keep 100% of his employees. It is noble. Board and shareholders might disagree but it is nice to see someone looking out for the…
Did a little more poking around but he also gave up his stocks and savings according to this tweet: https://twitter.com/DanPriceSeattle/status/12334746629670051...
Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”
#10What I've been hearing on the internet is that companies are racing to lay off as many people as they need to now, before applying for their free bailout money from the government. It also sounds like businesses are trying to lay off more than they actually need to lay off, in order to get the maximum benefit. The terms of the bailout loans are such that they can lay off people before they apply, get the money, and s…
I agree with you with the first point, giving money to companies isn't a good idea but I think it's also a bad idea to give it to "the people". I think it would be better to change. My opinion is most people are going to buy thing they don't need. Instead we could focus on better ideas for the future.... I don't know maybe I'm too utopist...