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Even if they are eventually forced out, they get a golden handshake often worth millions. The workers get fired without notice and often with no severance.
Do you actually look at the data?
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According to a study done by Russell 3000 Index (A company that tracks the performance of the top 3000 U.S. stocks) 52% of CEOs were fired, meaning less than half of the CEOs leave on their own terms.
They get a golden handshake for their job instability.
And workers get terminated per the terms of the contract, some absolutely do get severance pay.
What percentage of workers get fired? Job stability in all sectors is terrible, no one has a job for life these days.
Having worked in several companies that went through bad times, I can assure you the first action any of them took was reducing the workforce before eventually being forced out , the workers bear the brunt of the CEO's poor decision making before the CEO gets his/hers golden handshake. Must soften the blow, being fired but here's $5million.
What can we all do against all of these evil villainous CEOs? How can we make things more fair to the little guy just trying to make ends meet?
The primary responsibility of a CEO is to create/ increase value for shareholders, the people and businesses that risk their money through investment and create capital for a business to expand. Most people do not have the skills and political acumen to do the job well.
The Board determines the comp package for the C- Suite. Typically it’s a combination of salary and incentive comp awarded in cash and stock.
Organized labor has been striking for the proverbial “ living wage” for over a century. This sort of worked well for a blip in time when the US had no global competition.
Since the 70’s more jobs have been eliminated by technology substitution/ industrial robotics than offshoring.
In doing so, it has created new jobs, requiring different skill sets than those who held the jobs before elimination.
Even if they are eventually forced out, they get a golden handshake often worth millions. The workers get fired without notice and often with no severance.
The "workers."
Who are you, Vladmir Lenin? They are people too, not "workers."
Some of them have great severance packages, some don't. Just like "CEOs."
The average "worker" on the floor isn't answering to the board about why profits are the way they are. If you don't understand the difference by this point in life, you never will.
What percentage of workers get fired? Job stability in all sectors is terrible, no one has a job for life these days.
Having worked in several companies that went through bad times, I can assure you the first action any of them took was reducing the workforce before eventually being forced out , the workers bear the brunt of the CEO's poor decision making before the CEO gets his/hers golden handshake. Must soften the blow, being fired but here's $5million.
Why should anyone have a "job for life?"
A job is a voluntary contract that provides benefit for both the employee and the employer.
When the terms of that contract become non-beneficial for either party, the contract can be terminated.
People are generally compensated based on how hard it would be to replace them and on how much profit/value they provide to the company.
it's none of your business what terms the "CEO" negotiated or what the company was willing to pay. Just like it's no one's business what an average employee worked out in their compensation package.
I am no CEO, but I worked hard to get where I am and get comfortable. I don't care what they make. I agreed to whatever I was being offered to do whatever job it was through no coercion.
If you wanna talk 'evil' CEOs we can go the angle of shady lobbying practices, which I'd hope Everyone is against.
But negotiating pay is on the individual to decide. Don't be jealous. They'll always be someone making more that you and someone making less.
Who are you, Vladmir Lenin? They are people too, not "workers."
Some of them have great severance packages, some don't. Just like "CEOs."
Someone should inform the HR departments of this. I've been at companies that do mass firings of workers, gather them into a room and inform them all in one go that as of today you have no job - of course the CEO wasn't the one to deliver this message, too cowardly.
I am no CEO, but I worked hard to get where I am and get comfortable. I don't care what they make. I agreed to whatever I was being offered to do whatever job it was through no coercion.
If you wanna talk 'evil' CEOs we can go the angle of shady lobbying practices, which I'd hope Everyone is against.
But negotiating pay is on the individual to decide. Don't be jealous. They'll always be someone making more that you and someone making less.
Exactly. These liberal class warriors are as old as the hills.
Someone else makes more than them and it's sob story time. "So and so makes too much and got too big a severance package." Boo hoo hoo.
If you don't like what you get paid, work somewhere else, acquire more skills, become more valuable, start your own company, etc. etc. etc.
In the USA, YOU determine how much you make. No one else. Stop bellyaching about the success of others.
What percentage of workers get fired? Job stability in all sectors is terrible, no one has a job for life these days.
Having worked in several companies that went through bad times, I can assure you the first action any of them took was reducing the workforce before eventually being forced out , the workers bear the brunt of the CEO's poor decision making before the CEO gets his/hers golden handshake. Must soften the blow, being fired but here's $5million.
Your personal anecdote doesn’t represent the facts.
CEOs get fired all the time. And they are harder to replace, hence the far higher pay, than a worker. Companies often have to higher CEOs away from other higher paying companies, hence the golden handshake.
CEOs are the face of a company, period. When the worker is the face of the company, they can get executive pay as well.
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Up to half of exiting CEOs don't quit. They get fired.
If you had a 50% chance of being fired, you would want a golden handshake for your new job in order to leave your current job too.
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