Microsoft boss Satya Nadella will earn a wallet-busting $79.1m (£60.9m) this financial year, up 63 percent on his compensation for 2023.
The huge boost to Nadella’s pay in both cash and stock, announced by Microsoft last night, comes after a positive year overall for the company’s financial revenues - but a turbulent 12 months for its employees.
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.
And I bet he does less work in a day than every single one of the people who were laid off to fund his pay
Maybe they can come up with some technology that would someday take the position of CEO. Think of the savings…
Right, but the whole point of a corporation is to benefit insiders at the expense of the owners, employees, suppliers, customers, people that breath air, dolphins, platypi, etc.
It’s to benefit the owners
Nah, maybe in terms of stock price temporarily. But these layoffs are all anti value by destroying institutional knowledge, employee loyalty, etc. C suite fucks don’t know anything about their businesses and these sorts of moves always fuck owners in the end. Look at boing, GE, etc. When these Jack Welch types get into management they always fuck over the long term owners and get very rich doing it.
Then again, Im a weirdo that believes in equities having long term intrinsic value so don’t listen to me.
I’m pretty sure CEOs are supposed to be one of the most AI replaceable jobs.
Lemmy, stop upvoting this BS, you jealous basement dwellers.
Say all you want about unfair pay, but those CEOs work absolutely mad hours and the most insane schedules you can possibly imagine.
Because of the devastating year for layoffs.
The purpose of a system is what it does.
Came here to say exactly this.
Exactly, they were labor heavy and he fixed a problem which resulted from gross over hiring. Sounds like he’s doing a good job.
The ideal corporation has no labor and only profits. Somehow.
I mean, yeah. Isn’t that what we would like here? To not have to work if we don’t want to and yet tech progresses steadily, industry still operates, the world continues moving while people are free to engage in their desired pursuits?
Not If the profits are in the hand of a single owner, who relied on his workers to get to this point of automation and profit
Transition periods are never without issue.
And rarely peaceful.
As long as they’re generating profits then that wealth will not go to the people who lose their jobs. They’ll just be a surplus population.
*in America
Americans have to realise there are other ways to run a country. What’s going on there isn’t normal for the rest of the world.
Profits by definition only go to the owners and investors. Once they’re seized by the government they’re no longer profits, they’re company expenses.
Those are the only two options?
Most Americans have never owned and will never own a passport, and they dont read much. 60% of them live paycheck to paycheck too. So they dont know and they dont have the time or energy to care.
Yes. Those laid off workers aren’t going to a world where they’re free to engage in their desired pursuits. They’re making hard decisions to keep their family alive. That second part is important.
If everyone has all their needs adequately met and excessive 79 mn annual salaries are non-existent.
This just might be the stupidest fucking comment I’ve seen all week.
You type without looking?
You definitely type without thinking.
The trap where the thing you’re saying is totally valid and accurate but it’s not the thing to be talking about. I don’t know where this thinking comes from or what it’s called, but I notice it within conservative groups (probably because I’m critical by default of those ideas). It reminds me of BLM protests and how Ben Shapiro was talking about damage to property and business owners when the actual issue and discussion to be had is entirely different. It just serves to support the problematic behaviour that people are trying to change.
So yes, there was a surge in demand and they over-hired and letting people go is the right choice, but the whole situation is fucked and the optics of this kind of raise is dogshit.
They were labor heavy because they (and all the other tech giants) overhired during the pandemic assuming that record profits would continue forever. Then they had Surprised Pikachu Face when that didn’t happen. That’s not doing his job. It should have been obvious the spike was temporary.
Every time a big company lays people off I always try to remember that it’s not because they aren’t making enough money as a company. It’s because the “important” people want more money.
He get this pay becuase he laysoff people.
Executive compensation is structured around this.
He wouldnt bother withnthe layoffs if his comp didnt improve…
“Growth for the sake of growth is the ideology of a cancer cell”
“Despite”
…because of layoffs
Yeah they want to make it clear that they laid off people and he should not get rewarded for it, however I think we all read ‘thanks to the layoffs he could increase his pay’
Eat. The. Rich.
We can’t even get people to go outside and meet live humans for sex anymore, everyone has switched to online apps for dating. People order food and groceries because we learned from Covid we don’t need to actually interact with other people.
Does anyone actually expect us to mobilize and topple powerful financial institutions? We have the most comfortable society on Earth in the US. Despite how miserable everyone is, nobody wants to leave their soft chairs and giant computer monitors and immersive video games and discord chat channels where you can mute and block anyone you don’t like. The only thing that could possibly change our course at this point would be some transhumanist/singularity nonsense like artificial general intelligence being developed and wrecking the economy.
But that’s tech being developed and controlled by the wealthy elite, so my hopes faded long ago.
Everything is going exactly to plan. You’re welcome.
Maybe someone can make an app, so I can have someone paid at an insultingly low hourly rate to go protest/riot in my place?
already done.
"Crowds on Demand is an American publicity firm that provides clients with hired actors to pose as fans, paparazzi, security guards, unpaid protesters and professional paid protesters.[1][2][3] The company operates in Los Angeles, San Francisco, Las Vegas,[4] New York City,[1] Washington, D.C.,[5] Iowa, and New Hampshire.[6] "
Theres also “Rent a Family” https://charactersforhire.com/rent-a-family/
That dystopian “future”. It’s the present, isn’t it.
I’m seriously considering rent-a-family. My relatives can occassionally be ‘unprofessional’ and I see that for a small fee I dont have to put up with that sort of bullshit anymore.
Now that’s creative :D But you gotta make sure one buyer = one rioter
2.49 extra for assured personal rioter. Otherwise you’ll get the standard service where your rioter may have another riot to attend to first.
Sorry, the first sentence in your reply is wrong. I’ve literally spent the last two weekends going out and meeting people. If you don’t go outside, that’s on you.
Wow, I’m amazing you found this comment I made specifically about you. I’ve been following you around for weeks trying to find ONE place where you wouldn’t see the lies and slander I’ve been trying to spread about you specifically. Curses, one day I will manage to find a place to tell lies about you where you will never find it.
Absolutely insane. I literally cannot fathom accepting that much money when there are so many other people who need it more.
That’s because you’re not a piece of shit. Most major companies CEOs are pieces of shit
Employees are a companies biggest expanse. Thats why they want to get rid of them as much as possible. Why are people really thinking that AI will free up new jobs? There is a finite amount of things only humans can do more “effeciently”(not sure if thats the right word, forgive my german) or better, and it is only getting smaller.
Wow! He must be not just hundreds but many thousands of times more productive than an average employee! Incredible! Well deserved.
Wow such work, much deserve
despitethanks to
Remember, he’s the real victim here, he had to sign off on all those layoffs, he’s going to have to live with that decision…
…in one of his multiple mansions.
He gets paid that much because he’s one of the few people on earth who can make those kind of tough choices. The poor guy must be weeping into his caviar.
Our CEO announced layoffs recently and then even more recently sent a follow up email complaining about how people were complaining about it and saying how hard it has been for the executive team. We’re a small company and I get the pain they are feeling due to financial constraints but at the end of the day we work for money and they are taking home 3-4x as much as anyone else each month while making all the decisions about how money is spent. It’s hard not to become resentful.
Sorry to hear that, typical hierarchical power structure.
We need more worker protections, and more workplace democracy.
What a miracle! He must work that much harder than everyone else there! I’ll bet A.I. could never do as good a job as he does!
I almost forgot… I heard his marbled meat will taste better than many other breeds of billionaire, especially when slow-smoked over Mesquite. I hope we are able to taste that one day.
Im a vegetarian but this one would be good for the planet, so…
Hello fellow vegetarian! I made the comment while holding my nose. It would definitely be my one meat exception.
Glad my layoff could help you out!
Where do folks think that money comes from if not layoffs?
It’d be cool to never be held accountable for bad business moves, but we also know that layoffs are celebrated by Wall Street for cutting costs.
On the one hand, Nadella has, in my opinion, saved Microsoft. They were on a downward spiral right before he took over. On the other hand, nothing justifies a $79.1MM salary. That is grotesque.
They still are, they might have started to pull up, by they’re still squarely on a collision course with the ground. When this AI bubble pops, thier Boeing provided auto-pilot will crater them into the ground.
Sorry, this metaphor got away from me.
I wonder if you will still feel this way after he kills the Xbox console.
more like because of the layoffs
Fire the CEO and hire back the best with pay rises, if they’re willing. JC, MS, get a grip on yourselves.
