C suite gets richer while employees scramble for their jobs. Disgusting.
15 replies (most recent on top)
"Clearly, some folks think they are worth it, and very few folks are capable of handling those jobs."
I'm pretty sure most anyone can run a good company into the ground.
"Go Capitalism! "
Apparently John Rohn didn't live in our reality. Regular employees have capitalism, large corporations and C Suite'rs have socialism. If they get in trouble, the government they bought and paid for will bail them out with our tax money,
Go Crony Capitalism!!
Heads of major corporations, elite athletes (playing a game), elite entertainers, owners of some highly successful private companies, etc. make insane amounts of money. Clearly, some folks think they are worth it, and very few folks are capable of handling those jobs.
Nobody in their right mind thinks the average worker should be paid insane amounts of money.
More Jim Rohn for you, "We are paid based on our value in the marketplace."
Go Capitalism!
- also pretty sure no matter how accountable the average worker is, they won't have $100M in AT&T stock.
"Don't you think the average worker is more accountable for that situation than is AT&T?"
You're missing the point. The point is the C suite and BOD are not increasing dividend and buying back stock to enrich employees, they're doing it to enrich themselves - and for the past 12 years have on the whole borrowed money to do it thereby wrecking the balance sheet.
More debt than any company is history, pensions are underfunded, and mass layoffs are in progress. Is that the employee's fault?
All the while, John John and Randy make $20M - $40M per year.
Jim Rohn would have said, "Don't wish it were easier; wish you were better." Average worker = $10K in 401K; that's pathetic. Don't you think the average worker is more accountable for that situation than is AT&T?
"If you have a 401K you’re getting richer too not just the execs."
So randy and John and John have $100M in stock and options, and the average worker has $10k. They get $6M per YEAR in dividends plus stock appreciation plus options (plus their bonuses are paid in stock and options), while the average worker gets $600.
Yeah, I see your point.
If you have a 401K you’re getting richer too not just the execs.
I received my MVO confirmation email today .... up to the 16th it could have gone either way although we all knew with other layoffs coming that MVO rejections would not exist. But receiving the Confirmed MVO made me smile. Bye bye AT&T!! Good luck folks ... I’m out of this crazy place!
You'll notice that while the dividend hike and share buyback plan is in the the news, the layoffs are not. Just like last year. Makes you wonder why CNN isn't reporting this... Oh, I forgot, AT&T owns them.
This is one of the biggest gut punches AT&T did to their employees this year. Execs are being given a nice bonus while telling the common worker they can't afford to keep their position due to high amounts of debt.
AT&T continues with plans from 10 years ago while rewarding the shareholders, who own the company.
pretty disgusting. stock buybacks should be illegal but when you have a fed that prints money out of thin air no creative accounting is off the table.
millennials are mostly underpaid temp workers without health insurance and huge student loans... the generation that won't be able to retire due to corporate greed
even Google has 140,000 "temp" workers
Glad I am close to retirement, I feel for the new generation future. sold for profit, I hope the dont stay until is too late, knowing that your job can disapeed in a blink of an eye, just to maximize hedge fund managers. and institutional investors expectations