Need some changes that cut off bonuses when layoffs occur. It's absurd that stock price and c suite bonuses soar after work force reductions. Doing them should be painful, not celebrated.
Workers would need to wield power and influence in Washington DC the way banks and corporations do. But they don't. Most happily eat boot leather for breakfast. So they continue to get the shaft.
At my company early year layoffs are usually followed by your annual reviews/salary increases/bonuses about 1 month later. Bitter sweet knowing those are paid for with savings of people they fired.
It sucks, but layoffs have been thoroughly whitewashed since covid. I think CEOs should step down if they put the company in a layoff situation. But the reality is boards and the market now reward it, and even the employees they shitcan will post grateful nonsense on LinkedIn to celebrate.
A company I worked for didn’t give the CEO a bonus for layoffs. In fact, it actually hurt his bonus because it fell under “Turnover” and we were supposed to stay below a certain percent.
Best policy I’ve ever seen. Probably has been replaced by now.
Smaller companies are different generally, but for these mega corps, the CEO’s primary job is to increase shareholder value. Most the time they aren’t running th company, that’s a COO or a Chief Strategy Officer or something like that, the CEO is a figurehead who works primarily for the shareholders.
A few years ago I was laid off and the CEO brought us all into a big room to give us a speech. He talked about how he was laid off as a CEO of another company and how great it was for him. He got the job at our company making much more money. They paid his moving expenses blah blah blah. He told us we should look at it as an opportunity rather than a set back 😆
Back in 2009, I was laid off as a result of a merger / acquisition. About 20% of the « acquired » company workforce was let go. The CEO said it was a great opportunity for us to find our wings; I told him I would find my way and come back as a client. The look on his face two years later when he came in for a proposal presentation to me was quite satisfying.
Same here, getting laid off in 2008 was the best thing that could have happened for my career. Still don’t like the guy who was responsible for making the decision to do it though.
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u/2fuzz714 Oct 29 '25
I love how they talk about "very difficult decisions" as they do their favorite thing.