People are losing their jobs. Jobs are going overseas. My yearly bonuses get smaller every year, YET OUR CEO GETS A $1,700,000 INCREASE IN HIS BONUS LAST YEAR. He has the nerve to tell us that we all have to cut back and cut operating costs! I guess the picture of him smiling in the stock holder's proxy statement tells us at the bottom that we're screwed! I'm casting my vote to oust him! (Rant over, going back to my meaningless job)
reminds me of E-trade a few years back. the CEO laid off 25% of his workforce, then got a monster bonus. I don't mind executives making a silly amount, but not when the chips are down.
25% reduction in workforce - $5 - $100 million annual cost savings in salaries and benfits depending on size of the company $2 million bonus for shrinking millions in ANNUAL costs....still nets a huge savings the first year....but now the CEO needs to find away to net a bottom line impact in similiar magnitude within the next 2 years again or he is ousted by the board...its hard to be the top dog. But yes it is also very hard getting laid off...in fact I am still employeed after being 'right sized' by Xerox in December but upper management is all about numbers not about people. That's why I'm gonna get there...then when the numbers don't look good I can pull my golden chute and land somewhere else to make more money. Until then I hedge and make political power plays to get me ahead. Sometimes they work, sometimes I get 'right sized'
Our company got a new CEO a couple years ago, who implemented a new "incentive bonus plan". The idea was that if the company made money, we made money. So they set some realistic production goals for different departments and the first quarters bonus checks were very nice. Then they kept raising the numbers until now nobody expects a bonus, so nobody gives a crap. Now most people's main incentive is to do the least amount of work and not get fired, and management cannot figure out why everyone is less productive than before. I haven't gotten a cost of living increase in over three years, yet we get a big company picnic every year and they give away thousands of dollars in computers, trips, etc. Oddly enough, most of the big-dollar crap seems to be won by office employees and lesser value prizes (X-boxes) get won by production people. I say screw the picnic, give me a raise and I'll buy my own burger.
YEAR - SALARY- BONUS- OTHER COMPENSATION 2003 $2,122,000 $5,700,000 $843,613 2002 $2,100,000 $4,000,000 $523,345 2001 $2,066,667 $3,800,000 $463,581 All of this and the value of the company stock slid over 50%! I guess stuff really does flow downhill!
