While some tech giants neared or imposed widespread layoffs last year, compensation for their CEOs climbed as much as tens of millions of dollars, according to an ABC News analysis of data released by research firm Equilar.
"Especially in tech, I think it's a shock to tech workers who have always been in such high demand to be experiencing these layoffs," Lisa LaViers, a professor at Tulane University's Freeman School of Business who studies executive pay and its effect on workers, told ABC News.Leonardo Munoz/View Press/Corbis via Getty Images
Key attributes of executive and worker compensation complicate the moral outrage, however, LaViers said. A corporate worker laid off by Uber this year, who requested anonymity for fear of negative consequences if they spoke publicly, described the dynamic of job cuts alongside pay increases as "very frustrating.
The full compensation package awarded to Khosrowshahi is dependent upon the company’s fulfillment of key objectives, UberSimilarly, a worker interviewed by ABC News who was laid off this year by data-storage firm Western Digital expressed disappointment after finding out that CEO David Goeckeler received a 42% pay increase in 2022, according to Equilar data.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
As Hollywood strikes continue, unions call out excessive CEO pay: 'We need to look at what they're doing with executive compensation'As Hollywood strikes continue, unions call out excessive CEO pay: ‘We need to look at what they’re doing with executive compensation’
Read more »
Google contract workers accuse Alphabet and Accenture of violating labor laws | EngadgetThe Alphabet Workers Union has filed a complaint against Alphabet and Accenture with the National Labor Relations Board alleging retaliatory layoffs in violation of labor laws,.
Read more »
Google-parent Alphabet offloads nearly 90% stake in trading app RobinhoodGoogle-parent Alphabet said on Friday it had slashed its stake in Robinhood Markets by nearly 90%, cutting its exposure to the trading app operator that has been grappling with a slowdown in its mainstay business.
Read more »
Alphabet sold nearly 90% of Robinhood stock holdings in Q2Alphabet sold almost 90% of its Robinhood stake last quarter
Read more »
Google-parent Alphabet ditches nearly 90% of its Robinhood stakeAlphabet significantly trimmed the number of Robinhood Markets shares it owns, bringing the total down to around 612,000. It represented a roughly 87.6% reduction.
Read more »
Atlassian shares skyrocket as CEOs see wider margins returningAfter moving many of its customers from on-premises software to cloud products, Atlassian is looking for margins to return to historical levels.
Read more »