Firstly, if you're part of the layoffs my heart does go out to you. For what the gesture is worth I think the Zoom CEO and leadership team at least sent out a better message and took some action, than what we've seen on here lately. 15% cut to company - 1300 employees CEO cutting salary by 98% Executive leadership team reducing their base salaries by 20% for the coming fiscal year and forfeiting their 2023 corporate bonuses. https://www.usatoday.com/story/tech/2023/02/07/zoom-layoffs-2023-eric-yuan/11204391002/ Thoughts? Lip service?
My thoughts are the CEOs that do this are a gimmick. The “$1” salary just means living off millions in RSUs
Obviously they’re still making lots of money, but I think the symbolism matters Many ceos just do layoffs and pretend like the employees did bad and they don’t bear any responsibility for the situation So this is still much more than most CEOs are doing
I bet at the executive/ceo level the base salary only makes up 5-10% of their comp or less
Dumb move to pleased the “leftists” in the current market. And Like every other big tech they over hired -_-
damn.. people will bring politics into every discussion :)
Imagine throwing shade while being illiterate.
Not 3000. It's 1300
TY!
The $1 salary (or $80k salary or whatever) is a tax dodge. If the leadership team isn't giving up their equity awards, this is a meaningless token effort
Execs still got to pay their mortgages and yacht fees
Hands down the best take on actual accountability. Salesforce’s head MB used to mentor this guy, I think MB needs some learning from him on not making empty words.
Why not take a cut in bonus and stocks, base salary cut for CEO means nothing, literally nothing.
When you are already a billionaire, I guess you can forgo anything.
Sadly, Microsoft teams with it's bundling is a much better option. Slack copied a few of their features as well
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From the teams numbers reported at MSFT quarterly earnings, I can guess the zoom is in a lot of trouble. It will come down to what new metric they use to report their growth or lack there of.
I see a lot of good things coming to MS
Sounds like puts for zoom for earnings at 2/27