https://www.hollywoodreporter.com/business/business-news/paramount-global-ceos-pay-1236032719/
14 replies (most recent on top)
Odd if they were laying off from an algorithm from this site because where there used to be between a 1000-2000 views on posts in the past - there are only 300+ typically in recent posts
He has been kissing her ring for years…not surprised, but now angrier than I was when laid off
Unreal
“Paramount Global has revised its employment agreement with Executive Vice President and Chief People Officer Nancy Phillips. Her role is now extended until June 2027, with a salary boost to $1 million and a potential 120% bonus based on performance. Additionally, her annual equity compensation target has increased to $1.8 million starting from fiscal year 2025, with an immediate $350,000 in restricted stock units that vest over three years.“
Wow, when you’ve been laid off from the company and your moral diminishes. Some employees were 6 months or so away from STIP, worked hard and started their goals. It would be fair practice for employees (not contracted) to receive a pro rated bonus in 2025 with severance pay but that will likely NOT happen.
We are back to a good old boys club supported by the top white guys in HR/Comp acting right under the nose of Nancy Phillips who is asleep at home and hasn’t been into the office in a few years. They get them a nice huge contract, help them save money on everyone else’s bonuses except the large ones they give themselves and the retention bonuses they gave themselves earlier in the year.
Disgusting on so many levels! Rewarding heads of a sinking ship. I thought the idea was to save money? and at the same time giving loyal employees who were there for many years 2 weeks per year severance!
Part of their agreements are the norm, but if you read the details in the various articles there is compensation included that is not the norm. I feel like we are back to the days of the French Man!
Re: the $500M savings - they knew they would have to hire temps to do the work after the big layoff, but temp costs are recorded to another line; as long as they hit the mark to wall street/sky dance with the layoffs they are being rewarded.
Totally wrong on ivy League ceo's . Seriously that is so old school billionaire boys club. Can't you read the room? Are you blind. These CEO 's are affirmative action hires only hired because of what they are NOT what they knowl. 2 g-y guys & a woman . Get with the progralm
The new age CEO is an animal that, very often, comes out of an Ivy League college with a nonpareil pedigree and friends in high places, but dubious actual experience. He then wields the high chop sword to bolster the bottom line with almost no long term plans or vision beyond the next quarter of the fiscal year. This, because his chances of surviving beyond that are doubtful because, as with most politicians, his purview and knowledge are severely restricted...on purpose. Who needs accountability when you can run a company on point-and-blame cruise control for big, big bucks?
No it's not it's called an UPDATED employment contract in a time when we just cut 2,000 people. This is NOT normal
Golden parachuters! Responsible for the deteriorating state of the company but will exit with millions in their bank accounts.. disgusting and shameful!
Its called a EMPLOYMENT CONTRACT
No different from any other CEOs from any other company in any other decade. That's why
I cannot believe the board allowed this. Disgusting. Meanwhile, I have people who have been on hold since July for promotions and market adjustments.
This is disgusting. These guys fired thousands of people but offset that cost cutting with raises and extended payouts for themselves.
How can this be ok?