- cross-posted to:
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- cross-posted to:
- [email protected]
2024 has seen two mass layoffs at Microsoft, with 1900 staff laid off in January, before a further 650 Xbox employees were shown the door in September.
Regardless, Microsoft’s shares are up and the company’s market value is now higher than $3tn, as it works to capitalise on the rise of AI.
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CEO = SIC: Shareholder in Chief
He made $12000 off each fired employee.
Per year. And lets not talk about his stock options and other benefits… Fucking disgusting.
The board doesn’t care about the number of people employed. They care about the current profitability and future profitability.
Of course that’s their job; to look after shareholder interests. And the money would move to a better investment if they didn’t.
It’s the whole system you need to change, if you seek change, not moan about an individual CEO.
That’s why Mitbestimmungsgesetz can be goddamn fucking awesome.
I’ve never heard of that. That’s a cool idea.
Current profitability is up. Profit margins are also up from last year. But I could see investors looking at the lack of any path after the current Xbox and wondering why they employ so many there. I’m sure other areas have also seen some stagnation.
Regulate monopolies. Eat the rich.
Headline confused “despite” and “due to”
yeah lol what do they think is happening here
@ForgottenFlux disappointed but utterly unsurprised
That’s roughly 30k for every employee laid off
If they were software engineers, they saved $200,000+ per person laid off
That’s how he makes dem big bux, by telling other people to fuck off
Sounds like an easy sell to the board, then. It it’s that much of a net positive in economics.
His salary increase must be inversely proportional to the quality increase in Windows 11.
his payrise is equivalent to something like 3000 US workers minimum wage annual salaries
if my math is correct (which it probably isn’t)
Yup, that checks out for me.
That said, that’s the federal minimum wage, which almost nobody actually gets (article says $1M people).
Because, not despite.
Immaculate concision
When was the last time you got a 63% raise?
Well his compensation is tied to the stock price so it’s not exactly a “raise.” My employer’s stock is near an all time high right now so I’m not complaining about how much I made from the shares I sold, but neither do I consider it a “raise” because it’s not guaranteed to be the same next year.
At my last company, they usually gave end-of-the-year bonuses instead of raises. They were pretty generous, usually amounting to about half of our annual salaries, but it of course prevented us from being guaranteed that level of compensation the following year. That’s why I always describe bonuses as raises followed by pay cuts.
Yeah pretty much. Everything about it is a hedge. They can pay less if their numbers tell them to. They can lay you off and not give you anything. They can make more cash disappear if they have to. It’s the squirrelliest shit yet they cast it like a gift from god.
March 2023
Eh, congrats! New Job?
I’m self employed.
Found out I’m depressed, decided to reduce work to 3 days a week.
Raised prices to reduce clients. Turns out I now make more, doing less work. It is what it is.
I once quit my job at a software company I really hated. They were desperate to keep me around for the projects I was leading so they asked if I would work hourly for a while. I quoted them a go-fuck-yourselves hourly rate which they immediately agreed to, which made me even more angry about my prior years of poor compensation. I worked under this agreement for about half a year and further improved my effective hourly rate by not working very hard.
Dont mean to pry, but I’ll gladly do whatever you’re doing
He’s mainly dealing with depression.
Well, yeah. How do you think they could afford Nadella’s pay raise?
I would like to propose some changes to that title:
Microsoft CEO’s pay rises 63% to $79m,
despite[because of] devastating year for layoffs: 2550jobs lost[employees were fired by their greedy CEO] in 2024 [because he wanted more money]
