'They were all fired': CEO gets $7.5 million bonus one day after laying off 1,200 employees

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    Font - Posted by u/VirusOrganic4456 11 hours ago My company laid off 1200 people yesterday. Today, the CEO and board director received combined bonuses of $7.5 million. I'm still too pinned off to say anything else about it.
  • 02
    Smile - Not going to name the company, as stated I still work there. Believe it or don't as if I care? I never post anywhere but I'm just so fucking angry that I had to get it out somewhere so here it is.
  • 03
    Font - MasterOdd 9 hr. ago Yeah, Jack Welch from GE invented this shenanigans. Go take a pics on his grave. 1.6k Reply Share
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    Font - Iamdrasnia 10 hr. ago $6,250 a person laid off. ↑ 1.0k Reply Share ScribbledIn · 6 hr. ago Here's a magic button. Everytime you press the button, you get 6,250 dollars, and somebody else in the world loses
  • 05
    Font - their job, their stability, their healthcare, and maybe even their next meal. If you're willing to grind on that button till it crumbles into dust, congrats you win at capitalism. 826 Reply Share
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    Font - AndyB4769 hr. ago · edited 7 hr. ago Pretty standard practice now a days. Lay off a bunch of people, show investors a shiny graph. Get bonus far outside of what it would of cost to keep those people on... good old greedy capitalism working as intended.
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    Font - Edit. Lol, I know that 7.5 million does not cover the cost of all the employees, I put as much work into it as that ceo did to earn 7.5 million. But anyway have a good night or day. 2.5k Reply Share
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    Font - BrotherRiddle · 11 hr. ago Here's your bonus that is suspiciously equivalent to the labor costs you just saved us by needlessly firing 1200 people. Now go make the remaining workforce do the jobs of everyone you fired for no extra pay 469 Reply Share
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    Font - meowmeow_now. 8 hr. ago Hey my old employer did that! New company motto is "do more with less" less being less employees, and the more being, making leadership more bonus money.
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    Font - heretogiveFNupvotes · 9 hr. ago I'm not happy about stories like this but $7.5M divided by 1,200 people is $6,250 per person. I'm sure a company would hire them all back at that salary. Reply Share 92
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    Font - epcdk 8 hr. ago Worked for a giant box. Had to fire my entire team (fu <ing family, together 6 years, near zero attrition), and rehire 80% of them. Left myself 30 days later. Hate myself that I didn't quit the day they told me. Best thing I can tell
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    Font - myself if that I let go people who I knew would thrive elsewhere. Worked out for the best, mostly.... But I still had to look them in the eye. Ten years ago, still haunts me. Exec bonuses that year.... $25+ million. 60 Reply Share
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    Font - GordieGord 11 hr. ago How these de mons can fail to lead their companies to prosperity yet still give themselves exorbitant bonuses should be illegal. Reply Share 81
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    Font - No-Date-2024 . 8 hr. ago Prosperity in their eyes is the share price. Doesn't matter how good the company is actually doing, they'll fudge the numbers to make it seem like they're having 10%+ growth every year 21 Reply Share
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    Font - funkymunkPDX 11 hr. ago Wage theft at its finest, destroy jobs and take the money and give it to yourself for "saving the company money" 221 Reply Share
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    Font - VirusOrganic4456 OP · 11 hr. ago Those affected were given minimal severance and not allowed to cash out remaining PTO, unless legally obligated to do so, which of course in most states it is not.
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    Font - I was not impacted but will be leaving as soon as possible. It was also handled in the most disgraceful, disrespectful and utterly idiotic way imaginable where the most knowledgeable people were let go simply because they made the most money. As it should be, right??
  • 18
    Font - The piss poor excuse for leadership has been reading talking points that they think make them sound compassionate when really we can all see they are soriopaths.
  • 19
    Font - The silver lining is that the stock price tanked even further, great job dipst its! 189 Reply Share
  • 20
    Font - Danmont88 7 hr. ago Welcome to America in the 21st Century. CEOs make 400% more than some of their employees. Government Covid relief money went to buy back stock.
  • 21
    Font - New CEO of Hulett Packard worked for 30 days and quit and received millions due some clause in her contract. 422 Reply Share
  • 22
    Font - Equinsu-Ocha. 7 hr. ago CEOs make 400X more than some of their employees. if it was just 400% more, that would actually be fine. that would be like if i made $20 per hour and the CEO made $100 per hour.

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