Posted by BarnyardEngineering on June 23, 2022 at 12:06:25 from (161.69.116.34):
In Reply to: John Deere posted by Bill(Wis) on June 23, 2022 at 08:34:32:
Why does it happen? Because presumably the money brought in under the CEO's leadership far exceeds the salary paid.
A CEO that can successfully lead a company to bring in billions is worth millions.
When a company hits hard times and starts letting people go, the first thing people want to know is, how come the CEO doesn't give up his salary to keep people employed? After all he's earning millions while 1000's of people are losing their jobs.
A million dollars will keep about TEN people employed. So let's say Deere is laying off 5000 people because of an economic downturn. The CEO voluntarily cuts his salary to $1,000,000, leaving $18,000,000 to save jobs. So 180 people out of 5000 get to keep their jobs. Big whoop. A spit in the ocean.
$19 million is a lot of money for one person but it's not much when you split it across 75000.
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