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Microsoft Corp said on Wednesday it cut about 3,000 jobs, effectively completing its plan to reduce its workforce by 18,000, or 14 percent of total staff, announced in July. The majority of the 18,000 job cuts were in the phone handset business Microsoft acquired from Nokia earlier this year.
CEO's push to buy companies, steal what tech they want, and lay off people, and bump up their own compensation.
Microsoft just revealed how much it is paying its new CEO, Satya Nadella. All told for the first year, it's a package worth $84 million
It breaks down like this:
base salary of $918,917,
a cash bonus of $3.6 million,
a one-time grant of stock valued at $59.2 million in connection with his promotion to CEO that he will not be able to cash out until 2019,
and another one-time stock grant worth $13.5 million given to him in August 2013, to keep him around during the CEO search process.
With these grants, his stock holdings jumped from 231,116 shares before he was CEO, to 4.9 million shares after he got the job.
Microsoft says that without the one-time stock grants, his compensation adds up to the much more modest sum of $11.6 million. The company also agreed to a $17.4 million golden parachute if the whole CEO gig doesn't work out.
Shareholders have determined that they need to pay their CEO the money he gets
What is your solution? The pay is set by the board and the board is elected by the shareholders who in effect own the company.
You don't own the company and should have no say in who gets paid what. If you do own the company in the form of stocks then you get to vote.
This is a fair way to set pay
It is not fair for the government or people who want to spread the wealth to tell others what to do with their money or take money from others to give to the poor.
Shareholders have determined that they need to pay their CEO the money he gets
What is your solution? The pay is set by the board and the board is elected by the shareholders who in effect own the company.
You don't own the company and should have no say in who gets paid what. If you do own the company in the form of stocks then you get to vote.
This is a fair way to set pay
It is not fair for the government or people who want to spread the wealth to tell others what to do with their money or take money from others to give to the poor.
But ultimately the board of directors is not in full control, and neither are the shareholders, because the CEO pay is set by the market rate.
It is still legitimate to complain, to the extent that the income inequality is strongly influenced by public policy. It is public policy that was promoted by Ronald Reagan which ultimately causes budget cuts to things that help everyone have a fair chance (e.g. government funding for education, training, small business, and research).
If it weren't for Reagan's ideals on low tax rates on the high income levels, there wouldn't be so much pressure to cut spending and make it so difficult and time-consuming to get out of poverty and into the middle class...
That's disgusting! The top 10% have made sure they can have their,yachts, 3 or 4 beach homes, while their employees struggle to make ends meet. Once greed took over in this country back in the 80's it's been downhill for the majority of Americans ever since.
its all corporate greed right??
lets all make the same- that would be easy- but lets all contribute the same- that's where it isn't so easy
you libs throw around class warfare- this is dangerous and ignorant
if a dentist went to college for 10 yrs (a high school grad )
and his best friend is a pot smoking I hate America liberal - just dubbed around and partied for 10 yrs after high school,,
they should make the same?????????????????????
you lunatic left liberals should be nicer to the productive that's paying for the 40 % on welfare
not throw rocks at them....
Some make 9k year after year.Obviously underemployed but what other choice?Now we know that dentists are going unemployed but not much from doctors.I find that funny.
Waterlilypad in post 3 makes a great point. Americans are not allowed to freely engage in the entrepreneurial process. Want to sell lemonade? Just try, they'll never let you do it. Want to sell leather goods you make at home at a stand in a parking lot? Never happen. There was a retired man that lives in my complex selling used bikes out front of a public park entrance. He wasn't obstructing anyone or hassling anyone. 3 days after he started the police came and ran him off.
Anyone who's been to Russia can tell you about all the entrepreneurship there. Hell it's as common as the air we breathe. People in small markets all over the place and from what I understand they have always been there. They sell anything and everything you can imagine. You'll never see something like that in America, we're too dominated by corporate government and petty controlling laws.
lets all make the same- that would be easy- but lets all contribute the same- that's where it isn't so easy
you libs throw around class warfare- this is dangerous and ignorant
if a dentist went to college for 10 yrs (a high school grad )
and his best friend is a pot smoking I hate America liberal - just dubbed around and partied for 10 yrs after high school,,
they should make the same?????????????????????
you lunatic left liberals should be nicer to the productive that's paying for the 40 % on welfare
not throw rocks at them.
I agree with what you say, effort should be rewarded but when it comes to class warfare we are in a war of classes and the middle class is not winning Mr Janny.
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