Trickle down economics - when the 1% piss on the remainder.
this post was submitted on 25 Oct 2024
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CEOs gonna CEO.
In case you missed it, in our broken model of civilization a CEO's only responsibility is to increase value for shareholders. Not to clients, not to employees, not to the biosphere.
Market cap increased, job's done successfully.
Because of layoffs, not despite them.
The entire point of AI as it stands right now is to allow more of those layoffs. Anyone telling otherwise is a liar.
Also I hate how currently, AI is used to remove the fun parts of creating things at a computer. Take coding for example, I think I can speak for many people when I say that the fun part of their job, is not the planning or the meetings, it's the actual coding and stumbling upon a hard problem to solve. Now with AI you the human will only keep the boring parts of the job!
Exactly how I am feeling. AI took the fun part away of cracking a problem and the satisfaction of solving it is now gone.
When I entered the work force in 2005, it was with a company that had never had a layoff in its thirty-year history.
Then, in 2009, they had their first layoff, and I learned later our CEO had taken an 80% pay raise that year.
Taxes aren't theft. Literally firing people and taking their salaries is theft.
Also that CEO has an eminently punchable face.
tautological
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They should be paying 90% tax over 1 million.
Thank god, all these employees lost their jobs so Satya Nadella can pad out their already insanely high salary.
We don't want Satya to starve like the rest us of plebs!
Typical and most people in the US view CEO's as heroes. US income distribution is on the same level as fucking Russia.
As someone from fucking Russia, people with biggest income in your country are usually first businessmen, second - something else, while in Russia those would be cockroaches from MFA, PA and other thieves, plus a few oligarchs who at some point were among those cockroaches.
So it may not be as bad yet, but frankly yes, you are giving out vibes of going in the same direction.
“Look timmy, it’s a man made entirely of bullshit”
Pretty standard issue corporate psychopath.
An old friend was one of the people who got laid off in January. Fuck MSFT.
He made $12000 off each fired employee.
Per year. And lets not talk about his stock options and other benefits... Fucking disgusting.
CEO = SIC: Shareholder in Chief
The board doesn’t care about the number of people employed. They care about the current profitability and future profitability.
Of course that’s their job; to look after shareholder interests. And the money would move to a better investment if they didn’t.
It’s the whole system you need to change, if you seek change, not moan about an individual CEO.
That's why Mitbestimmungsgesetz can be goddamn fucking awesome.
That would literally change everything for the better.
That would be awesome, but would have limited results if there are still a few enormous companies with patent and IP laws preventing competition.
You can't have that eternal fight between democratic egalitarian monopoly and competitive jungle. The whole point of civilization is to have both representation and competition.
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That’s roughly 30k for every employee laid off
So the CEO gets less than half their salary for the year?
Sounds like a great deal for the company. Until, you know, the whole thing collapses because they laid off the workers who kept the whole thing running
That's some real bald-headed behavior if you ask me.
I'm bald.
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Regulate monopolies. Eat the rich.
When was the last time you got a 63% raise?
70% workload raise
Well his compensation is tied to the stock price so it’s not exactly a “raise.” My employer’s stock is near an all time high right now so I’m not complaining about how much I made from the shares I sold, but neither do I consider it a “raise” because it’s not guaranteed to be the same next year.
At my last company, they usually gave end-of-the-year bonuses instead of raises. They were pretty generous, usually amounting to about half of our annual salaries, but it of course prevented us from being guaranteed that level of compensation the following year. That's why I always describe bonuses as raises followed by pay cuts.
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His salary increase must be inversely proportional to the quality increase in Windows 11.
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