Well another example of our Executives being held to a lower standard! A Role Model rating on an evaluation for us grunts is 5%. No One gets a Role Model anymore.
But, do a mediocre job of running our company and you get a 13% raise!
If you wondered why they were laying off so many people who helped build this company I guess we know now. It was to pay for the CEO to get to a $22 Million Dollar a year paycheck.
I hope you enjoy your money Mr. M as you speed around town in your Tesla.
The top brass does not give a damn about the long term viability of the company. They are only trying to squeeze out as much as they can in the short term. They make a ton of money then move on. WM is no longer a mom and pop shop. It has become a corporation to be 'managed' like many others and ALL of the non-officer employees are expendable. The sad part is that many of the 'B' and 'C' class managers either do not see what is happening, do not care what is happening, or are striving to reach the 'A' level positions so they can take an obscene piece of the pie too.
More layoffs today while the CEO got a raise. They justify it by saying the SG&A needs to come down. But they raise the wages of a guy making $22 mil a year.
The Aldi CEO doesn't make that. Neither does Trader Joe's. But they raise the compensation of the WM CEO until it's in the range of the CEOs of General Motors and Ford Motor Company.
Think about that for a moment. One company makes tiny grocery margins and the other makes automobile margins. But the CEOs make around the same.
And to save money they're slashing people making $85k.
It doesn't make any sense.
What does the WM CEO make in salary per year?
So to answer your question about CEO Salaries at Amazon and Aldi, their CEOs make roughly $2M per year Compared to Walmart's CEO - Mr M. That includes their bonuses. So yes I would say it's greedy. Especially since they cut roughly 18,000 hard working Americans away from a paycheck. Not to mention the cuts taking place globally.
Wife works for TJs - loves it (only 2 years tenure though)
Amazon treats their people worse than Walmart according to what you read online. Don't know about Trader Joe's.
The more irritating they make the Sam's and Wal-Mart shopping experience, the more I'll use Amazon and Trader Joe's. They are cutting off their nose to spite their face. If I have to go to a store, there's a reason I go to Nordstom or Neiman Marcus, or even the local grocery that still offers teenagers to shuttle my groceries to the car. I'll pay a few cents more for decent service.
Out of curiosity, how does the Walmart CEOs pay stack up versus Amazons, Aldi, or Lidl? Just trying to understand if we have a greedy CEO or if this is par for the course.
yes and at Sam's Clubs you get 2% raise no matter what you do. I always received a role model evaluation and received a lot bigger raise than 2%. This is really sick that they get 13%. Sam Walton's kids are just so greedy. They need to watch out Kmart use to be on top and now look where they are.
FY17 Annual Bonus payout was significantly higher than previous years and Associates who are bonus eligible also benefitted. Additionally, WMT FY17 SG&A costs as a % of sales are 200 basis points higher than in FY12. While reducing HO payroll cannot close the gap, it is a part of the equation. WMT's peak Operating Income was around $28B, and it is now at $23B. Clearly, WMT returns (ROI, ROA) need to improve.
WMT leadership is having to make some difficult choices. WMT is experiencing the same competitive forces as other retailers, given the customer shift to ecommerce and the heavy investment required. Additionally, with Lidl and Aldi entering the US, there will be even more price competition which will result in lower margins. The emerging competitors are agile and fast, and WMT needs to adapt to that.
These reductions are challenging for all of us impacted. The retail landscape is changing and organizations are attempting to adapt to those changes.