Don’t forget the board of directors, they pick the CEO.
On that note, don’t forget the shareholders with voting rights, they pick the board members. The bigger the share, the more culpable they are.
I asked an LLM to translate the idea into corporate jargon (it turns out this is something they’re actually quite good at) and it spat this out:
Office-Safe Jargon: "Executive compensation levels may warrant further evaluation in light of current financial performance. A potential avenue for optimizing resource allocation could involve a modest reduction in executive remuneration, which may contribute positively to overall profitability.
Not to excuse the relentless flow of money upward, but the two times we had to do (temporary) pay cuts in my career, it was 10-15% for employees, paid back eventually, and 35-50% for executives, not repaid. At two different companies. So I do know at least sometimes it’s done that way.
The execs were never in danger of missing any necessities.
Agreed.
Just replace the CEO with an AI. It would probably do the job just as poorly, but wouldn’t need any payment.
Nvidia is really enjoying having inconceivable amounts of money. I don’t have any confidence that a C suite ai wouldn’t cost companies similar amounts of money as the people they replace.
The only problem with that is it would perform logical actions that do not generate immediate short term profits. It might end up implementing 4 day work weeks and remote work, which are proven to increase productivity.
Or it would hallucinate and do weird shit, or get easily manipulated by someone
What people are calling AI in this bubble is just a mindless text generator
I hear European CEOs demand much lower salaries. Could save a bundle right there.
They also demand and take vacation and obey time off the clock. Employees, too. American business doesn’t like that.
I’ll just just repeat this here. I am a US laborer. I got two days paid time off last year, and when I brought it up, my boss suggested saving them for an emergency. I got an email January 1 that they disappeared.
Save your days off for when you’re dying. But don’t worry, we’ll fire you when you’re sick enough first.
Advice for others reading this:
- know the vacation policy.
- do days carry over to next year?
- what happens if you go over. (Sometimes one is fired, othertimes one only
looses a day of paydon’t get paid for that day.)
Edit: clarification
Damn that sucks. In the UK a full time employee gets a minimum of 28 days off a year, and you’ll probably be encouraged to at least tell the company how you’ll use them before the end of the financial year, depending on how the company does time off.
Don’t rub it in. I know.
I want to leave so bad.
and cut it out with the stock buybacks!
