When your boss says the companies struggeling....
Discussion
... and he wants you to follow his example in agreeing a cut in your base salary to help save the company from yet more redundancy payouts......
there are desions you need to make....
and information you need to know.....
http://www.forbes.com/lists/2006/12/7UTB.html
Sobering reading isnt it...?
Hmmm, lets see, do I cut my base salary? maybe. My family will suffer though, without a doubt.
Quite happy to forgoe my bonuses (I dont get any)
And I dont get stock options or $8.6 million of 'other'.
In fact, just reclaiming my expenses is a bloody minefield.
there are desions you need to make....
and information you need to know.....
http://www.forbes.com/lists/2006/12/7UTB.html
Sobering reading isnt it...?
Hmmm, lets see, do I cut my base salary? maybe. My family will suffer though, without a doubt.
Quite happy to forgoe my bonuses (I dont get any)
And I dont get stock options or $8.6 million of 'other'.
In fact, just reclaiming my expenses is a bloody minefield.
Tony from what i have read elsewhere that doesn't tell half the picture. Mark Turd is actually reported to have taken $42.5Mil last year ( here) which turns his 20% sacrifice into more like 0.6%. That is also rumoured to be offset by additional bonuses he will get for reducing staff costs.
Seriously considering telling them to stuff their pay cut.
Seriously considering telling them to stuff their pay cut.
ViperDave said:
Tony from what i have read elsewhere that doesn't tell half the picture. Mark Turd is actually reported to have taken $42.5Mil last year ( here) which turns his 20% sacrifice into more like 0.6%. That is also rumoured to be offset by additional bonuses he will get for reducing staff costs.
Seriously considering telling them to stuff their pay cut.
FFS. I was eating a chicken sandwich whilst reading your reply and almost needed that Heimlich Manouvre the guy on the other thread needed. Seriously considering telling them to stuff their pay cut.
Blimey, my CEO earns $300,000 a year (plus share options, but unable to vest these for a while). For the head of a market leading hi-tech company in its field, this is actually a really conservative figure but one that is fair. He is worth every penny! I am not sucking up either, he works damn hard.
I do have a problem with some CEO's who earn tens of millions though. Yes, its a risk and the bigger the company the bigger the reward, but that still doesn't quite justify the massive salaries, especially when they are laying off people and making cost cutting measures. Stopping free coffee in some offices might save $10m a year, but when your CEO is earning $30m, its a bit of a joke!
I do have a problem with some CEO's who earn tens of millions though. Yes, its a risk and the bigger the company the bigger the reward, but that still doesn't quite justify the massive salaries, especially when they are laying off people and making cost cutting measures. Stopping free coffee in some offices might save $10m a year, but when your CEO is earning $30m, its a bit of a joke!
Tony*T3 said:
ViperDave said:
Tony from what i have read elsewhere that doesn't tell half the picture. Mark Turd is actually reported to have taken $42.5Mil last year ( here) which turns his 20% sacrifice into more like 0.6%. That is also rumoured to be offset by additional bonuses he will get for reducing staff costs.
Seriously considering telling them to stuff their pay cut.
FFS. I was eating a chicken sandwich whilst reading your reply and almost needed that Heimlich Manouvre the guy on the other thread needed. Seriously considering telling them to stuff their pay cut.
I know how you feel, we've just had a load of redundancies announced by the founder of the company i work for, they've made 200 people redundant, and claim there was no other way of saving the $65m dollars they needed to stay afloat(only $20m of that saving is down to redundancies) - but the guy is worth almost $1.4 billion, thats his personal wealth! So why not let the 200 people keep their jobs, and you bail the company out of your own pocket?!
Cheeky expecting someone on $20k a year to feed their families with no job, when he's got a private jet, and refuses to sell the $5m apartment the company owns in New York, because it can be used to "entertain clients" - well there won't be any clients if there's no employees to service them.
sorry, rant over.
Cheeky expecting someone on $20k a year to feed their families with no job, when he's got a private jet, and refuses to sell the $5m apartment the company owns in New York, because it can be used to "entertain clients" - well there won't be any clients if there's no employees to service them.
sorry, rant over.
Gillet said:
Cheeky expecting someone on $20k a year to feed their families with no job, when he's got a private jet, and refuses to sell the $5m apartment the company owns in New York, because it can be used to "entertain clients" - well there won't be any clients if there's no employees to service them.
sorry, rant over.
king things up and then expecting the poor ignorant man on the street to pay for it....Oh yes, i see your point.
Tony*T3 said:
marsred said:
WHy is everyone referred to on here being paid in USD?
Should I be at pistonheads.co.uk?
Do you all find leaf springs "Sporrdy"?
We work for US companies and therefore the boss is paid in $'s.Should I be at pistonheads.co.uk?
Do you all find leaf springs "Sporrdy"?
Or should that be $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$'s
Gillet said:
I know how you feel, we've just had a load of redundancies announced by the founder of the company I work for. Claims there was no other way of saving the $65m dollars they needed to stay afloat - but the guy is worth almost $1.4 billion, thats his personal wealth!.
Jesus, ok his personal wealth is 1400 million dollars, and he is not prepared to use a miserly 65 million dollars from his own fund to help bail out his firm!!!!!Clearly does not care about the workers of his firm and just thinking about himself and how much money he can earn before the company goes belly up.
Whilst I do not know or understand the full ins and out of this matter IMHO, he's a knob
G
Erijaso said:
Gillet said:
I know how you feel, we've just had a load of redundancies announced by the founder of the company I work for. Claims there was no other way of saving the $65m dollars they needed to stay afloat - but the guy is worth almost $1.4 billion, thats his personal wealth!.
Jesus, ok his personal wealth is 1400 million dollars, and he is not prepared to use a miserly 65 million dollars from his own fund to help bail out his firm!!!!!Clearly does not care about the workers of his firm and just thinking about himself and how much money he can earn before the company goes belly up.
Whilst I do not know or understand the full ins and out of this matter IMHO, he's a knob
G
You can't mean to insinuate that these paragons of industry might not actually give a s
t about their loyal staff can you?Erijaso said:
Gillet said:
I know how you feel, we've just had a load of redundancies announced by the founder of the company I work for. Claims there was no other way of saving the $65m dollars they needed to stay afloat - but the guy is worth almost $1.4 billion, thats his personal wealth!.
Jesus, ok his personal wealth is 1400 million dollars, and he is not prepared to use a miserly 65 million dollars from his own fund to help bail out his firm!!!!!Clearly does not care about the workers of his firm and just thinking about himself and how much money he can earn before the company goes belly up.
Whilst I do not know or understand the full ins and out of this matter IMHO, he's a knob
G
He started the company. He takes the risks. He makes the decisions.
I think CEO's are different as they command massive salaries with little or no risk to their personal wealth.
A lot of HP players here. I'm glad I got out while the times were good.
Towards the end, HP had to be the most miserable place to work with Hurd making cost cuts in so many places, that I had to sign for paper clips, pens and notepads.
It had to be one of the dreariest places to work although I'm very grateful for the expat deal they gave me to come to Vienna.
Towards the end, HP had to be the most miserable place to work with Hurd making cost cuts in so many places, that I had to sign for paper clips, pens and notepads.
It had to be one of the dreariest places to work although I'm very grateful for the expat deal they gave me to come to Vienna.
Erijaso said:
Gillet said:
I know how you feel, we've just had a load of redundancies announced by the founder of the company I work for. Claims there was no other way of saving the $65m dollars they needed to stay afloat - but the guy is worth almost $1.4 billion, thats his personal wealth!.
Jesus, ok his personal wealth is 1400 million dollars, and he is not prepared to use a miserly 65 million dollars from his own fund to help bail out his firm!!!!!Clearly does not care about the workers of his firm and just thinking about himself and how much money he can earn before the company goes belly up.
Whilst I do not know or understand the full ins and out of this matter IMHO, he's a knob
G
He is CEo. I expect there a shareholders. THEY own the company. He, and the directors, just run it.
It is not for him to spend his money in any capacity other than shareholder. His responsibilty is the other shareholders to ensure the company can continue to trade in these tough times. Having 200 more employees than needed in not in the best long term interest of the company, the shareholders or the employees.
Sorry to piss on your chips, but that is how business works.
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