Why do CEOs claim to "take responsibility" for the hard times, but their salary is never cut because of it? If they were actually taking responsibility then they would face real consequences instead of dooming people to no longer having healthcare. Fucking rich people.
Because aggressively hiring and then cutting staff when plans change is what the board wants them to do? Anyway, with tech stocks falling off a cliff this year they are taking pay cuts.
Cut? They'll take huge bonuses if they manage to fail so hard to require a government bailout, as if one should be rewarded for opening access to the federal taxpayer cookie jar.
Ed Bastian, CEO of Delta Airlines requested the board cut his salary when he had to lay off people during the covid travel implosion. I think it ended up being cut 50% that year.
"As Chief Executive Officer at DELTA AIR LINES, INC., Edward H. Bastian made $12,360,420 in total compensation. Of this total $950,000 was received as a salary, $3,038,542 was received as a bonus, $4,125,062 was received in stock options, $4,125,186 was awarded as stock and $121,630 came from other types of compensation. This information is according to proxy statements filed for the 2021 fiscal year."
Salary is often one of the smallest parts of a CEO's compensation, so it doesn't mean a whole lot. It's better than nothing, though.
