For real though. Yes the CEO can get a pay cut, but that is unlikely to save more than a few individuals. The costs of labour are just that high, often the highest of all costs a company has. That’s why laying off staff, although terrible, is the best way to save money for a company.
I agree that CEOs earn waaaaay to much for what they actually do, but cutting that is not the magic solution people imagine it is.
Even the famous pay cut by Shigeru Miyamoto of Nintendo was accompanied by other cost saving measures in the company, and only because Japanese law demands that layoffs be the last thing a company does.
Hahahahahahahahahahahahahahaha…
You serious?
For real though. Yes the CEO can get a pay cut, but that is unlikely to save more than a few individuals. The costs of labour are just that high, often the highest of all costs a company has. That’s why laying off staff, although terrible, is the best way to save money for a company.
I agree that CEOs earn waaaaay to much for what they actually do, but cutting that is not the magic solution people imagine it is.
Even the famous pay cut by Shigeru Miyamoto of Nintendo was accompanied by other cost saving measures in the company, and only because Japanese law demands that layoffs be the last thing a company does.