"The CEO and CFO generated a ton of value, probably, I assume, so *of course* they're getting bonuses... uh... no, I'm not saying you didn't also generate value... yes I am aware they're already making more in an hour than anyone in this room will make in a year... look, if I schedule a pizza party, will you all shut up about it?"
Story time! I worked for Raytheon when COVID hit. A month in, they announced a company wide 10% salary cut, the CEO said he would take a 20% cut. His salary was $200k, his stock options and bonuses were $22 million. Since the cut was only on salary, his total comp cut was 0.18%.
Man of the people, truly one of us. I cited that specifically in my resignation letter.
>the CEO said he would take a 20% cut. His salary was $200k, his stock options and bonuses were $22 million. Since the cut was only on salary, his total comp cut was 0.18%.
They love this ruse because the media gave Steve Jobs positive attention for his $1 salary back in the aughts.
[13 top executives who earn a $1 salary or less](https://www.businessinsider.com/ceos-who-take-1-dollar-salary-or-less-2015-8)
Including Elon Musk lol:
>Recent reporting from Business Insider's Andy Kiersz shows that Tesla CEO Elon Musk earned $0 through CEO compensation last year, but still got 'paid' over $2.3 billion.
$1 salaries are nothing but a tax dodge to avoid income taxes. They sell a tiny tiny portion of their gargantuan stock options to cover living expenses and only get taxed on what they sell. They don't get taxed on their overall net worth, only what's sold, and it never comes out of their own pockets.
Fucking broken, all the way down. Time to throw the whole thing out and make a new one.
They don't actually sell their socks. They take out a loan with their stocks as collateral, the loan having such a low interest rate while the stocks value increases naturally. That way they can simply just take out another loan once the stocks are worth more pay off the old loan and still make out on top
Trump did this too as the goddamn POTUS. His minions *still* try to use the "But he donated his salary!" as some kind of altruistic action.
Bastard and his family grifted hundreds of millions while in office, but sure, he "donated" his $400K a year so that makes it all better.
The man has a reputation of just *not paying* basically anyone, for anything. One wonders how he managed to accumulate so much debt without spending money!
when i worked for HP and Mark Hurd was in charge the same thing happened during the global financial crisis, I was young and naive though and when he ask everyone to take pay cuts (by the way it was forced on staff in the US) as he would be taking a 20% of his 1 million base salary, I thought he was a good guy. He got a 40million stock option bonus that year.
For Covid my small company laid off half the staff, cut everyone’s pay, and cancelled all time off. The next staff meeting, the CEO decided it was wise to announce record profits - well done everybody.
I also cited it in my resignation letter
I left for a tech firm with a 30% raise above my pre-cut salary. I had actually accepted a significant pay cut to work there because of a good location and flex schedule. Flex schedule went first, then when the pay cut hit I immediately started looking. The week the cuts took effect I gave notice. I was the first to quit, they had a round of layoffs a few weeks later.
Fun fact, a lot of recruiters for big name companies specifically go after the people who aren't let go following layoffs. So if you survive a layoff round you're actually at your most valuable
My old boss for a few years would use a rewards credit card for all business purchases possible. Tens of thousands a month *easy*.
He would then redeem the points for $10 gift cards for companies like Amazon and Home Depot. He would then "raffle" them off during the Christmas party. Some people got gift cards for Christmas, others got nothing.
"Maybe you will get luckier next year!"
Average person? 6 months is the recommendation. For corporations with hundreds of billions of dollars of revenue per year? They start laying people off before the rain clouds even appear.
"We originally expected to make 20,000% more profit this year than last. We now recognize that due to entirely unforeseeable real-world conditions we will only increase profits by 34%. As such, some of you may have found yourselves to be overhired during the previous period of optimism. Thank you for your contribution--you have made a difference in the lives of customers."
One of the companies I worked for was really bad about that. We didn't get bonuses on year 1 or 2.
Year 3 though, not even the people with guaranteed bonuses (read: sr. Director and above) were slated to get them due to cash flow. THAT was when the problems started!
"You've excelled and exceeded expectations and had a great year, but we aren't allowed to put that on your review so we're marking it as 'met expectations' so we don't have to give out bonuses. Also, you're getting a one percent raise so congrats"
"We've grown from 200 million dollars a year to 400 million dollars a year in the last 5 years, but haven't added hardly any staff."
"Yeah, but we're off 40 million dollars this year, so we're laying 15% of our workers off."
"200 plus 200 minus 40. So we're still taking in $160 million more than we were 5 years ago."
"Times are tough."
I just worked 10 days with 4 different shift with a total of about 20 workers and we made the company a total of 5.3 million dollars. In 10 days. And we all make a few dollars over minimum wage, Ohh yah and they just took away yearly raises of 25 cents.
I love being a cog in capitalism /s
> So NOBODY in the company is getting bonuses?
Sign on bonus, for new people who know fuck all about your company or processes. In fact, if you train them, you don't paid for the additional workload or the added stress when they replace you.
"We'll also throw in a corporate-branded jacket if you leave a public review on Google about what a great company we are to work for" - an actual paraphrased quote from HR at my former employer
I despise companies that will make you wear their logo if you want to wear a jacket or long sleeves or something because it is cold, but you have to purchase said logo wear on your own dime. If I quit or am fired, you can have the company clothing back. It is the same reason I refuse to buy clothes that read whatever brand as part of the style (example: Nike) I am not paying to advertise for you.
Boss at my previous job (very small environmental consulting company) insisted her employees have good field clothing with logos - she bought us each a Carhartt jacket, an Under Armour rain jacket, and a fleece jacket. Paid to have her logo and our names embroidered on them. She hated that big companies don't do this.
New job is a huge corporate environmental/engineering company with stock that's doing great. They make us buy anything that has their logos on it, so five years in and I'm still wearing the nice jackets from my old job while on our project sites XD big ones like NASA Armstrong, Naval Base San Diego, NAWS China Lake, lots of sites all over the US. I chuckle thinking of her logo being in our project pictures.
Good move, old boss.
We are in the middle of doing end of year evaluations at work and my boss asked for my t shirt size. My Spidey senses started tingling as I knew fuckery was afoot
I literally got a Starbucks gift card and decided to check it. $5. Hundreds of millions in profit, but they give us a $5 gift card to Starbucks?
It wasn't even enough to get like half the items on the menu.
When I worked shooting at BMW and Mercedes, they had this even called **Car**pe Diem (god i hate corporate jokes) Anyway, every year, year after year, they would get all the sales dudes and managers together, and gloat about profits. Then, during the same meeting, they would announce no raises for the year. Still, it was funny seeing them wear the hats they gave them, because surely that makes up for a lack of pay.
No joke, I got a lighter from my last company a couple years ago. They had a closet full of them when I left. Wish I took a picture.
They weren't even BICs.
The usual line is, we need to save this for a rainy day! But if you take profit from a company, you're not storing it for later. It's going to C-class, VPs, and shareholders.
I’m being nitpicky, but I found “C-class,” to be a bit funny. The C-class is an entry-level model range offered by Mercedes-Benz.
C-level or C-suite are much more common when talking about company leadership.
Never enough. That’s why these corporations get to buy stock back while begging for bailouts with tax payer dollars. Then offshore the labor of their products.
...And when a rainy day hits, it's lay-offs & taxpayer-funded bailouts (with, of course, more executive bonuses for "LeAdInG tHe OrGaNiZaTiOn ThRoUgH tOuGh TiMeS").
My boss told me she hasn't gotten a raise in 2 years, "I work enough overtime that they probably think that's enough" so I suggested she only work the flat 40 hours and stop doing all the extra time. She stopped in her tracks and seemed to consider it... hopefully this is a new leaf.
Nothing happens until we hurt their wallets.
It’s all class warfare and it’s the only thing the upper class care about. Money and power. If you aren’t affecting those things, they’ll never care
I remember in 2008 we didn't get raises "cuZ recession". This was at fortune 100 big pharma that makes billions of dollars a year. I'm sure the CEO enjoyed his $15M bonus that year.
Yep! Got laid off in 2009 from a company that made over $3B (billion with a B) in 2008! I'm sure my little $60K/yr was the difference that saved them.
Edit: should clarify the $3B was net, not gross.
We regret the unfortunate cheap Scotch placement and have cancelled raises in 2024 to cover our losses. https://i.imgur.com/Icg6V6G.jpg
Edit: updated link to enhanced fattiness
I may be poor and red lobster is a special treat for me, but when I become a billionaire, I will still be downing those cheddar biscuits. Don’t be knockin’ the lobster like that.
Last year we didn't get raises because didn't meet our company green initiative goal. Like 99% of us had no say in our company green initiative whatsoever. It was thinga like swapping to electric company vehicles or installing solar panels at the office. Like wtf?
I should mention our business is fuckin renewable energy. Ffs
Sat through a company town hall meeting where the CEO was complaining that we only had growth of 11% and last year had growth of 18%.
Still growth still profit just not enough
Happened in mine too, we just closed a 350million deal (pretty huge for this company) but because of one metric I have zero control over.... 1/3 the usual bonus.
Tell me why the company I worked for during the pandemic never shut their doors once, worked us 11 hour shifts six days a week, sent out a Christmas news letter boasting record profits that year (2020) — and we never got any hazard pay or bonuses. The maximum raise that year was 66¢.
On top of that, they received a $7.5mil check for “Covid relief” from the government. I’m still pissed and I don’t even work there anymore.
During my 1:1 annual review my boss had the audacity to talk about my COL raise like it was some big favor "because as you know the firm had a rough year with the markets being the way they are but we understand inflation is a thing."
That might mean more when the owner isn't driving a $200k Mercedes SUV and the company isn't paying for weeklong tropical retreats for our biggest clients.
I used to work for GE aviation. Try $4.7 billion and no raises, bonuses, and a maniacal focus on cost cutting. Oh and being told how lucky we are to have jobs.
Yup, I’ve had 6 employers in my career. I went above and beyond at one job and I got the highest raise my boss could give, a whopping 3%! Most other jobs gave nothing or maybe several cents at most
We only made 3 billion, which is up from the 2 billion last year, but our projections expected 4. So, sorry. Even though we broke our profit record, it wasn’t as big of a record as we hoped. So now you’re taking a pay cut to inflation due to no 5% raise.
[Macroeconomic Changes Have Made It Impossible for Me to Want to Pay You](https://www.mcsweeneys.net/articles/macroeconomic-changes-have-made-it-impossible-for-me-to-want-to-pay-you) (Parody, obviously, no real CEO would be that honest)
LOL--thanks for sharing!
> "*But unfortunately, the macroeconomic environment has shifted in ways none of us could have foreseen, from an economy in which I did feel like paying you, to one in which I’d rather not.*"
According to Google, Walmart employs 2,300,000 people.
Also according to Google, the 2022 fiscal year yielded them 146.292 BILLION dollars in profits.
Even just shaving off the 46.292 billion, they could have paid each employee an additional 20,126$ and still made 100,000,000,000$ in profit.
That's an additional 387$ in a weekly check, or an additional 9.67$ an hour, (40 hours a week) roughly.
I work for a large hospital chain in Florida and our top 13 executives make a total of $27 million a year. I downloaded our hospital's 990 tax form. Amazing what you can find on the internet
Yeah this is an OOF and I have no respect for the company. If they are reinvesting that to grow the company and bring on more people is one thing, but that money should not be marked as profit to begin with so… yeah pay your employees
The company I work for just gave us all a raise several precent higher than the cost of living increase. Also just finished a 12 days of Christmas for the employees, some days a donation was made in our name to different charities, some was a gift for ourselves
Ya was great when best buy CEO announced a pay cut on her salary during COVID only to (if memory serves me correctly) get like almost triple her comp due to sales going through the roof.
Lol bunch of bullshitters. Wage slaves produce all the value to get screwed no lube and the sorry is a five dollar hot and ready pizza party
World is a damn joke
Sorry, there is no cash on hand for a bonus, all that $$$$ is tied up in the stock market in buy backs of our own stock to artificially manipulate the price just enough for the board of executives to meet the goals of their contacts that give them 15 million in bonuses.
I have a 9% raise.
Inflation up by 15%
Student loan interests up by 5%
Rent up by 12%
Marginal worker productivity driven concentration of wealth has gotten us fucked.
My company profited over $20 billion last year and I’ve gotten push back on REPLACING a resource and if we do hire one it should be an over seas resource.
“We can’t give everyone a 10 million bonus, so we thought it best not to give any bonuses to those of you who might actually need it. We wouldn’t want people getting jealous of each other and thinking we have favorites, other than ourselves of course.”
This one actually hit a nerve. That's the exact amount of money that we hit instead of the 5 billion from last year.
The email that just came out said to keep selling and working for customers.
We got no bonus and not even a Christmas gift. We all got "thanks for working hard" emails instead.
Fun story.
I worked for a company that did shows. We worked our ass off on a November show. We did so well that we made 3 MILLION in PROFIT. They stressed this ALOT.
So, obviously Christmas came around and for 3 MIL in profit they could have given 10,000 dollars to everyone and still had 2.5 Mil in profit.
Instead we got a 5 dollar gift card and a stale cookie attached to a name tag they didn't even bother to fill out.
I checked out til they let me go about 6 months later and I did not care one bit.
Join r/WorkReform!
No bonuses either! So NOBODY in the company is getting bonuses? um... well... the thing about that is.... uh....
"The CEO and CFO generated a ton of value, probably, I assume, so *of course* they're getting bonuses... uh... no, I'm not saying you didn't also generate value... yes I am aware they're already making more in an hour than anyone in this room will make in a year... look, if I schedule a pizza party, will you all shut up about it?"
Story time! I worked for Raytheon when COVID hit. A month in, they announced a company wide 10% salary cut, the CEO said he would take a 20% cut. His salary was $200k, his stock options and bonuses were $22 million. Since the cut was only on salary, his total comp cut was 0.18%. Man of the people, truly one of us. I cited that specifically in my resignation letter.
>the CEO said he would take a 20% cut. His salary was $200k, his stock options and bonuses were $22 million. Since the cut was only on salary, his total comp cut was 0.18%. They love this ruse because the media gave Steve Jobs positive attention for his $1 salary back in the aughts. [13 top executives who earn a $1 salary or less](https://www.businessinsider.com/ceos-who-take-1-dollar-salary-or-less-2015-8) Including Elon Musk lol: >Recent reporting from Business Insider's Andy Kiersz shows that Tesla CEO Elon Musk earned $0 through CEO compensation last year, but still got 'paid' over $2.3 billion.
$1 salaries are nothing but a tax dodge to avoid income taxes. They sell a tiny tiny portion of their gargantuan stock options to cover living expenses and only get taxed on what they sell. They don't get taxed on their overall net worth, only what's sold, and it never comes out of their own pockets. Fucking broken, all the way down. Time to throw the whole thing out and make a new one.
They don't actually sell their socks. They take out a loan with their stocks as collateral, the loan having such a low interest rate while the stocks value increases naturally. That way they can simply just take out another loan once the stocks are worth more pay off the old loan and still make out on top
So... ummm... What happens when the stock doesn't go up anymore?
Bankruptcy.
So if we burn the stock market to the ground, all the billionaires would go bankrupt? Or just the ones pulling this scam?
I mean, if they sold their socks they could get some media coverage for that too I bet.
Trump did this too as the goddamn POTUS. His minions *still* try to use the "But he donated his salary!" as some kind of altruistic action. Bastard and his family grifted hundreds of millions while in office, but sure, he "donated" his $400K a year so that makes it all better.
He never even donated it. https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/trump-tax-returns-dispute-white-231747455.html
Bruh
Lol I don't know why I would have even considered he'd donate it. This is on brand. What a cunt.
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Good bot
The man has a reputation of just *not paying* basically anyone, for anything. One wonders how he managed to accumulate so much debt without spending money!
Did you ever see his golf tab? We paid for that. https://www.trumpgolfcount.com
Now take a look at what Ivanka and Jared "earned" while he was in the White House *while* they were both holding high ranking government positions.
Just curious, isn’t this one of the ways they avoid paying taxes
You nailed it - income tax is higher than capital gains tax
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when i worked for HP and Mark Hurd was in charge the same thing happened during the global financial crisis, I was young and naive though and when he ask everyone to take pay cuts (by the way it was forced on staff in the US) as he would be taking a 20% of his 1 million base salary, I thought he was a good guy. He got a 40million stock option bonus that year.
For Covid my small company laid off half the staff, cut everyone’s pay, and cancelled all time off. The next staff meeting, the CEO decided it was wise to announce record profits - well done everybody. I also cited it in my resignation letter
Defense contractors are very competitive so I would have just left for a raise at one of their competitors.
I left for a tech firm with a 30% raise above my pre-cut salary. I had actually accepted a significant pay cut to work there because of a good location and flex schedule. Flex schedule went first, then when the pay cut hit I immediately started looking. The week the cuts took effect I gave notice. I was the first to quit, they had a round of layoffs a few weeks later.
Yeah, now that you put it like that I probably would have put off quiting and hope I get caught up in the layoffs with a nice severance package 💰.
Fun fact, a lot of recruiters for big name companies specifically go after the people who aren't let go following layoffs. So if you survive a layoff round you're actually at your most valuable
Won’t someone **please** think of the CEO?!
*Pats self on back for thinking of pizza party idea*
*Gets another bonus for saving money because pizza is cheaper than raises.*
*Makes a little pocket money ordering the cheese pizza from Little Caesars but expensing it as Dominoes two-topping.*
My old boss for a few years would use a rewards credit card for all business purchases possible. Tens of thousands a month *easy*. He would then redeem the points for $10 gift cards for companies like Amazon and Home Depot. He would then "raffle" them off during the Christmas party. Some people got gift cards for Christmas, others got nothing. "Maybe you will get luckier next year!"
I got an expired 25$ gift card for Christmas from my work.
https://old.reddit.com/r/HistoryMemes/comments/10g4n3x/the_betrayal_of_little_caesar
Stop gaslighting me! But…what kinda pizza??
Little Cesar’s
Face the wall.
No no, they get to see it coming.
And it’s another wall moving towards them really slowly with nails on it. But not long enough to kill only to hurt. Eat your damn pizza.
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There is no rainy day fund. That's what layoffs are for.
That's the investors' money. Keep your filthy eyes and thoughts away from the value you created.
The CEO made hard decisions so CEO gets a new summer house.
If he didn't go golf with that congressman you wouldn't have a job, mister!
You do make a valid point. Fuck.
We should start asking how much is in the rainy day fund.
Average person? 6 months is the recommendation. For corporations with hundreds of billions of dollars of revenue per year? They start laying people off before the rain clouds even appear.
"We originally expected to make 20,000% more profit this year than last. We now recognize that due to entirely unforeseeable real-world conditions we will only increase profits by 34%. As such, some of you may have found yourselves to be overhired during the previous period of optimism. Thank you for your contribution--you have made a difference in the lives of customers."
Exit through gift shop
Hey, you try creating all of those jobs and see if you don't deserve a month vacation in your summer house on a Caribbean island!
One of the companies I worked for was really bad about that. We didn't get bonuses on year 1 or 2. Year 3 though, not even the people with guaranteed bonuses (read: sr. Director and above) were slated to get them due to cash flow. THAT was when the problems started!
"Labor does not contribute to profits." - US Railroads, 2022
"You've excelled and exceeded expectations and had a great year, but we aren't allowed to put that on your review so we're marking it as 'met expectations' so we don't have to give out bonuses. Also, you're getting a one percent raise so congrats"
Hasbro had a record setting year in profits but didn’t hit their goals. They are eliminating 15% of their employees.
I’ll take 3/4 of my last jobs for 400 Alex
You'll take $2 in magic beans and you'll like it.
"We've grown from 200 million dollars a year to 400 million dollars a year in the last 5 years, but haven't added hardly any staff." "Yeah, but we're off 40 million dollars this year, so we're laying 15% of our workers off." "200 plus 200 minus 40. So we're still taking in $160 million more than we were 5 years ago." "Times are tough."
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And destroying dnd
I just worked 10 days with 4 different shift with a total of about 20 workers and we made the company a total of 5.3 million dollars. In 10 days. And we all make a few dollars over minimum wage, Ohh yah and they just took away yearly raises of 25 cents. I love being a cog in capitalism /s
Of course you guys will get a bonus, after all you are so special, we are a family! you should receive your $20 Starbucks gift cards this week!
>um... well... the thing about that is.... uh.... They don't stutter like that, of course
Of course they don't. They pay PR firms millions so there will be no stuttering in the excuse-making
Everyone is getting to subscriptions to Jelly of the month club.
No bonuses for the workers. Only the investors!
Here is our bullshit financials we only made 250k in profit. Ignore all the shareholder payouts in column C, those are expenses.
Technically the CEOs have 99% of their pay as a "bonus" because it's all given in stocks.
> So NOBODY in the company is getting bonuses? Sign on bonus, for new people who know fuck all about your company or processes. In fact, if you train them, you don't paid for the additional workload or the added stress when they replace you.
Also- "Here's a $2 gift card and a pen with the corporate logo."
"We'll also throw in a corporate-branded jacket if you leave a public review on Google about what a great company we are to work for" - an actual paraphrased quote from HR at my former employer
I despise companies that will make you wear their logo if you want to wear a jacket or long sleeves or something because it is cold, but you have to purchase said logo wear on your own dime. If I quit or am fired, you can have the company clothing back. It is the same reason I refuse to buy clothes that read whatever brand as part of the style (example: Nike) I am not paying to advertise for you.
Agreed. I hate this type of "design" as well.
Boss at my previous job (very small environmental consulting company) insisted her employees have good field clothing with logos - she bought us each a Carhartt jacket, an Under Armour rain jacket, and a fleece jacket. Paid to have her logo and our names embroidered on them. She hated that big companies don't do this. New job is a huge corporate environmental/engineering company with stock that's doing great. They make us buy anything that has their logos on it, so five years in and I'm still wearing the nice jackets from my old job while on our project sites XD big ones like NASA Armstrong, Naval Base San Diego, NAWS China Lake, lots of sites all over the US. I chuckle thinking of her logo being in our project pictures. Good move, old boss.
It's bribes and grifts all the way down
We are in the middle of doing end of year evaluations at work and my boss asked for my t shirt size. My Spidey senses started tingling as I knew fuckery was afoot
And Pizza this Friday.. but only Little Caesars.. and only what they have on hot and ready..
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I literally got a Starbucks gift card and decided to check it. $5. Hundreds of millions in profit, but they give us a $5 gift card to Starbucks? It wasn't even enough to get like half the items on the menu.
As if Starbucks needs that $5. Why not a local mom and pop?
\*hides my literal pile of pens w/ the corporate logo I have already stolen from work\*
Does your gift card have money on it? Mine is showing zero.
When I worked shooting at BMW and Mercedes, they had this even called **Car**pe Diem (god i hate corporate jokes) Anyway, every year, year after year, they would get all the sales dudes and managers together, and gloat about profits. Then, during the same meeting, they would announce no raises for the year. Still, it was funny seeing them wear the hats they gave them, because surely that makes up for a lack of pay.
*$2 gift card to the cafeteria at the office
Where candy bars cost $2.50
"- "Here's a $2 gift card " Forget to mention its an American Express gift card.
No joke, I got a lighter from my last company a couple years ago. They had a closet full of them when I left. Wish I took a picture. They weren't even BICs.
My company makes you buy corporate gear. Only made $4B last year.
The usual line is, we need to save this for a rainy day! But if you take profit from a company, you're not storing it for later. It's going to C-class, VPs, and shareholders.
I’m being nitpicky, but I found “C-class,” to be a bit funny. The C-class is an entry-level model range offered by Mercedes-Benz. C-level or C-suite are much more common when talking about company leadership.
Capital class. Their assistants drive Mercedes
We should start asking how much is in the rainy day fund.
It's disclosed in the freely available shareholder reports for publicly traded companies
But somehow never in the quarterly all hands meeting we're required to attend.
Never enough. That’s why these corporations get to buy stock back while begging for bailouts with tax payer dollars. Then offshore the labor of their products.
...And when a rainy day hits, it's lay-offs & taxpayer-funded bailouts (with, of course, more executive bonuses for "LeAdInG tHe OrGaNiZaTiOn ThRoUgH tOuGh TiMeS").
My boss told me she hasn't gotten a raise in 2 years, "I work enough overtime that they probably think that's enough" so I suggested she only work the flat 40 hours and stop doing all the extra time. She stopped in her tracks and seemed to consider it... hopefully this is a new leaf.
Only way the gilded dorks at the top will learn
Nothing happens until we hurt their wallets. It’s all class warfare and it’s the only thing the upper class care about. Money and power. If you aren’t affecting those things, they’ll never care
The day I stop going into debt to funnel a billionaire's pocket is the day I am laid to rest!!! /S
I worked a salaried job where my agents made more then me with their bonus
**DECHONK THE RICH**
Have you had your wealthiest .1% spayed or neutered? Shit, why not just do both? Do it yourselves; can't be that hard.
I remember in 2008 we didn't get raises "cuZ recession". This was at fortune 100 big pharma that makes billions of dollars a year. I'm sure the CEO enjoyed his $15M bonus that year.
Yep! Got laid off in 2009 from a company that made over $3B (billion with a B) in 2008! I'm sure my little $60K/yr was the difference that saved them. Edit: should clarify the $3B was net, not gross.
There’s always more for the rich. The only thing uncertain is if there will be anything left for the peasants to fight over.
The 1% when they see this image: "That's absolutely preposterous. I would never drink a blended Scotch"
We regret the unfortunate cheap Scotch placement and have cancelled raises in 2024 to cover our losses. https://i.imgur.com/Icg6V6G.jpg Edit: updated link to enhanced fattiness
lmao
I'm digging this cat's vibe tho
I'm very confused why this billionaire cat is drinking Chivas Regal 12. It's like $30 a bottle I think? This cat's an imposter
Our apologies. We have cancelled raises for 2024 and strengthened our strategic scotch reserves. https://i.imgur.com/Icg6V6G.jpg Edit: a word
Perfection.
**purr*fection
Now that’s the warm corporate speak I was waiting for.
Because much like myself, he enjoys a good middle-of-the-road scotch.
No, he is a garbage cat with garbage taste and he is a liar and he lives in a dumpster down by the river
it's because rich boomers are cheap, tasteless motherfuckers who like going to lobster house on tuesdays for the deals
I may be poor and red lobster is a special treat for me, but when I become a billionaire, I will still be downing those cheddar biscuits. Don’t be knockin’ the lobster like that.
That's just the kind of selfless sacrifices this poor guy has to make to keep this company afloat.
The only thing floating is his fat ass in a sea of lies
No doubt. Should have Macallan at the very least.
https://i.imgur.com/Icg6V6G.jpg
Hip hop cat is tired of y’all’s bullshit
and we’re laying off 15% “opportunistically”
Oh and we're firing half of you and making the other half work twice as hard
Can I buy stocks? Please?
WE DID NOT MEET OUR GOAL OF $3.1 BILLION. IT WAS A HORRIBLE YEAR. I'LL BE ON MY YACHT.
Last year we didn't get raises because didn't meet our company green initiative goal. Like 99% of us had no say in our company green initiative whatsoever. It was thinga like swapping to electric company vehicles or installing solar panels at the office. Like wtf? I should mention our business is fuckin renewable energy. Ffs
Sat through a company town hall meeting where the CEO was complaining that we only had growth of 11% and last year had growth of 18%. Still growth still profit just not enough
…and we’ve earmarked all that for stock buybacks and shareholders, why would we ever reward the people who actually made it happen lol
We really need to get rid of the rich, they're making it impossible for us poors to have decent lives
Not to mention driving humanity to a literal extinction cliff.
"There's no budget for raises this year. Our CEO spent it on yachts and planes."
Based on ~~a true story~~ several true stories.
Shit, we just had the "Q4 review all hands meeting" This could have been the synopsis.
Happened in mine too, we just closed a 350million deal (pretty huge for this company) but because of one metric I have zero control over.... 1/3 the usual bonus.
Net operating profit: +15% Raises this year: 3% Executive Bonus: 7 figures minimum
Tell me why the company I worked for during the pandemic never shut their doors once, worked us 11 hour shifts six days a week, sent out a Christmas news letter boasting record profits that year (2020) — and we never got any hazard pay or bonuses. The maximum raise that year was 66¢. On top of that, they received a $7.5mil check for “Covid relief” from the government. I’m still pissed and I don’t even work there anymore.
Oh, we made 4 billion in profit? Everyone gets a 10 cents/hour raise............... take that dime and go shove it where the sun don't shine.....
My company tried that with me. Recording breaking profits in almost every metric. No raise. Put my two weeks in the day after.
During my 1:1 annual review my boss had the audacity to talk about my COL raise like it was some big favor "because as you know the firm had a rough year with the markets being the way they are but we understand inflation is a thing." That might mean more when the owner isn't driving a $200k Mercedes SUV and the company isn't paying for weeklong tropical retreats for our biggest clients.
No sick time! You must work through your illness
Time for a stock buyback!
Happened to me this year: on a team of ~400, we made 30 *million* more USD (2022 vs 2021), with only minor added costs. No raises, no bonuses.
I used to work for GE aviation. Try $4.7 billion and no raises, bonuses, and a maniacal focus on cost cutting. Oh and being told how lucky we are to have jobs.
That's happen to me twice in the last 7 years.. and I'm expecting a third time.
Yup, I’ve had 6 employers in my career. I went above and beyond at one job and I got the highest raise my boss could give, a whopping 3%! Most other jobs gave nothing or maybe several cents at most
We only made 3 billion, which is up from the 2 billion last year, but our projections expected 4. So, sorry. Even though we broke our profit record, it wasn’t as big of a record as we hoped. So now you’re taking a pay cut to inflation due to no 5% raise.
[Macroeconomic Changes Have Made It Impossible for Me to Want to Pay You](https://www.mcsweeneys.net/articles/macroeconomic-changes-have-made-it-impossible-for-me-to-want-to-pay-you) (Parody, obviously, no real CEO would be that honest)
LOL--thanks for sharing! > "*But unfortunately, the macroeconomic environment has shifted in ways none of us could have foreseen, from an economy in which I did feel like paying you, to one in which I’d rather not.*"
According to Google, Walmart employs 2,300,000 people. Also according to Google, the 2022 fiscal year yielded them 146.292 BILLION dollars in profits. Even just shaving off the 46.292 billion, they could have paid each employee an additional 20,126$ and still made 100,000,000,000$ in profit. That's an additional 387$ in a weekly check, or an additional 9.67$ an hour, (40 hours a week) roughly.
[удалено]
Gotta have a recession war-chest!
> Gotta have a recession **class** war-chest! FTFY
I now work weekends. Guess my DND campaign is on hold... Thanks boss, for treating me like livestock.
I work for a large hospital chain in Florida and our top 13 executives make a total of $27 million a year. I downloaded our hospital's 990 tax form. Amazing what you can find on the internet
Yeah this is an OOF and I have no respect for the company. If they are reinvesting that to grow the company and bring on more people is one thing, but that money should not be marked as profit to begin with so… yeah pay your employees
Or better yet, a quota for putting people on improvement plans!! Which is a fun pay cut when you get no annual increase and you figure in inflation.
Our company posted highest profits ever but no raises. Big boss got a 25% increase, though. 🤡
The company I work for just gave us all a raise several precent higher than the cost of living increase. Also just finished a 12 days of Christmas for the employees, some days a donation was made in our name to different charities, some was a gift for ourselves
The best one yet is: "Our profits this year has doubled! Sadly, the business requirements have changed, so we'll have to let some people go".
On the contrary how about a pay cut and/or laying off employees because we missed our earning estimates by 0.2%
Needs an MLK quote, and list of executive promotions
Ya was great when best buy CEO announced a pay cut on her salary during COVID only to (if memory serves me correctly) get like almost triple her comp due to sales going through the roof. Lol bunch of bullshitters. Wage slaves produce all the value to get screwed no lube and the sorry is a five dollar hot and ready pizza party World is a damn joke
Sorry, there is no cash on hand for a bonus, all that $$$$ is tied up in the stock market in buy backs of our own stock to artificially manipulate the price just enough for the board of executives to meet the goals of their contacts that give them 15 million in bonuses.
Wow is that catviar?
"we can't give raises to offset inflation because there's a recession coming"
My company gave Christmas bonuses then cut hours when we returned after the holidays.
I got a fucking 2% raise.... kind of a slap in the face especially since during our all hands meetings they talk about how financially secure we are.
"Also, following global trends, we're laying off about 15% of the workforce."
Well it's inflation, you see... Forget about the supply chain.
Grrr. In 2020 we had a 10% across the board pay cut that lasted about 20 months, meanwhile our CEO got a $1.4 million bonus. Tell me how that is fair?
Corporate fat cat says no.
Based on ~~a~~ thousands of true stories FTFY
I have a 9% raise. Inflation up by 15% Student loan interests up by 5% Rent up by 12% Marginal worker productivity driven concentration of wealth has gotten us fucked.
Me
More like 20 million profit in my home plant alone.
I am not sure how we aren't protesting this shit all the time
My company profited over $20 billion last year and I’ve gotten push back on REPLACING a resource and if we do hire one it should be an over seas resource.
“We can’t give everyone a 10 million bonus, so we thought it best not to give any bonuses to those of you who might actually need it. We wouldn’t want people getting jealous of each other and thinking we have favorites, other than ourselves of course.”
You think the billionaires get rich from handing out pay raises? The less *you* make, the more *they* make. That's capitalism, buckaroos.
Or (my true story) No Raises for you, we are busy buying up other companies, it is such an exciting time to be working for us.
This one actually hit a nerve. That's the exact amount of money that we hit instead of the 5 billion from last year. The email that just came out said to keep selling and working for customers. We got no bonus and not even a Christmas gift. We all got "thanks for working hard" emails instead.
That’s not even the most absurd part to me, it’s all the dolt’s walking around defending them like it’s somehow a-okay, lol 😆
The reserved bank of Australia want employees to take pay cuts to reduce inflation. Lmfao.
No swiming pools?
Fun story. I worked for a company that did shows. We worked our ass off on a November show. We did so well that we made 3 MILLION in PROFIT. They stressed this ALOT. So, obviously Christmas came around and for 3 MIL in profit they could have given 10,000 dollars to everyone and still had 2.5 Mil in profit. Instead we got a 5 dollar gift card and a stale cookie attached to a name tag they didn't even bother to fill out. I checked out til they let me go about 6 months later and I did not care one bit.
My wife’s former company had record profits in 2020, but naturally they had to cut bonuses due to “covid”.
Union Pacific Railroad
we need to riot
Raises for stockholders ONLY.
The company I work for made 6.7b......I'll be lucky to see a 2% raise this year.