CEO announces company exceeded revenue goals by 40% and had its most profitable year, refuses to give employees more than a 2% raise: 'That doesn't even cover inflation.'

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  • Successful mature executive sitting at his desk in an office smiling and working on a laptop
  • Company just announced record profits then told us there's no budget for raises this year

    We had our quarterly meeting. today and the CEO was practically giddy talking about how we exceeded revenue targets by 40% and had our most profitable year ever. Lots of congratulations all around for the "amazing team effort."
  • Then my manager sends an email two hours later saying annual reviews are coming up but we've been instructed that nobody is getting more than a 2% raise due to "budget constraints" and "economic uncertainty." That doesn't even cover inflation.
  • Meanwhile I just found out our VP of Operations got a new company car last month. A Tesla. But sure, there's no money for the people actually doing the work.
  • Time lapse photography of a black sedan on the road
  • I've been here 4 years and I'm making basically the same as when I started after you account for cost of living. My rent went up 15% this year alone. But hey at least the shareholders are happy right?
  • Empty room with wooden floor and large window
  • The disconnect is insane. They really stood up there bragging about record profits and expected us to just smile and accept poverty wages. I'm so done pretending to be grateful for scraps.
  • binger5 This company is doing great... for me. -CEO
  • OP Amazing Lime124 They literally don't even see us as people, just line items on a spreadsheet. As long as their bonuses clear they couldn't care less if we can afford rent.
  • nboro94 CEO is giddy because he got his and fuck everyone else.
  • OP Amazing_Lime124 Yep, he got his bonus and new vacation house so why would he care if the rest of us are struggling. We're just the people who made those profits happen but whatever. fuck him.
  • edwkey The VP gets a Tesla but you can't get a raise that covers inflation. I'd be forwarding that quarterly report to every recruiter in town. Companies like this only learn when people start walking out.
  • OP Amazing_Lime124 Exactly, They count on people being too comfortable or scared to leave. The second they start hemorrhaging talent maybe they'll realize those "budget constraints" were imaginary all along.
  • Bushh_did911 Last company I worked at during covid. The ceo went on stage and cried at a company wide conference. He was so happy that we helped make him filthy rich. He owned 9 houses and 13 air bnb properties. He had bought up any of the competition and layed off tons people who had worked in the industry from office to techs. They eliminated bonuses and fucked with peoples overtime hours. But man if that didn't stick with me. He thought he earned it all through his hard work. He was a psychop
  • OP Amazing_Lime124 He cried about his own success while cutting your bonuses and overtime. That's some supervillain level lack of self awareness right there.
  • slade797 Company I work for is on track to clear $100,000,000 this year. No raises expected or mentioned, and no holiday bonuses for us peasants.
  • OP Amazing_Lime124 100 million and they can't even throw you a holiday bonus? That's genuinely fuckin insulting.
  • Sure_Acanthaceae_348 I hope you can find a new job soon, but in the meantime, make sure you act your wage.
  • Forymanarysanar It will continue until CEOs will start facing REAL consequences of their actions, not just "people quitting".
  • Rambler330 19 years of hearing "best year ever". Making $3 more over inflation since I started. 3rd generation of family running the company now. Don't think the company will last 5 more years. 3 months till I retire.
  • ilovepadthai These corporate goons are sociopaths. It's been an all out cash grab for the past several years. In the 50s/60's when societal structures and niceties were more in play, they had to at least pretend they cared about their employees- now, the brakes are off and they are in a shocking greed grab. These people are reprehensible. Union. Union is the only way.

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