“Zoom to lay off about 15% of its workforce while CEO takes a big cut to compensation
How the times have changed. Zoom, the platform that kept many of us connected throughout the darkest days of the COVID-19 pandemic, is, cutting 1,300 jobs in response to changing post-lockdown behaviors and a murky economic outlook. In addition, Zoom CEO and founder Eric Yuan is set to take a 98% percent pay cut and forgo his corporate bonus.“
https://www.ragan.com/the-week-in-comms-zoom-layoffs-ai-nintendo/
The CEO is turning the company around. Keep it going.
Retirees benefits were chopped, yet Randy is still getting a huge monthly payout until he is dead. That is the state of executive comp, sure make you pu-e. 🤢
Hahaha, you are funny, employee layoffs at AT&T only means larger bonuses for the C-suite until the ship hits the proverbial iceberg. In this time in history taking pay cuts only happens at first gen. startups or original founders that are still part of a company. Once cronyism, the entitled and Ivy leaguers take over, it’s all about contracts and golden parachutes despite performance or company viability. The days of morales, ethics, integrity and caring are over in the corporate world. If you think they are giving up company jets, company cars, chauffeured rides, country club fees, bonuses, etc.. then I have some farm land on Mars I’d like to sell you.
As long as there is any cash flow or money to be leveraged you can bet your last dollar that AT&T leadership won’t take any self imposed cuts. In fact if they were to sell or go bankrupt they would still get their $$ and pi$$ on the peons. Unfortunately it’s a sad summary of the times we live in. Action speaks louder than words despite all the company rhetoric!