Yes, Paycuts suck. I'm in disbelief. Been here a long time. Stock is where it was in 1998 and so we are drained of liquidity there and then bonus gone and base pay cut. What ?
Even the amount of paycuts.
Why is CEO taking only 25% paycut ? I mean cmon.
If the situation is so dire, why not take 75% pay cut ? We are here because of our execution issues. But also because ELT failed to see through the future and invested crazy. Insane hiring happened in last two years. Why folks who remain here after the firing cycle should pay for those decisions.
I can stomach the bonus cut since company is not making any money.
Base pay cut ? Really ?
401K cut ? Really ?
1982 was crazy macro situation. We are not there as an economy today. We are not fools. We are here because of the decisions ELT took in last 2 years.
This is such a cop out by the CEO and ELT to take such a small paycut.
Btw, I do believe that Pat can get us out of this. But he and ELT need to own up to this. Even though ELT has already taken the biggest hit by giving up bonus since that is the biggest % of their pay. 20% paycut for ELT and 25% for CEO is not enough.