Mirth wrote:
jones wrote:
I got that, my point still stands though. At my last employer when the new CEO rolled in and started implementing cost saving or consolidating measures as they liked to call it one of his first decisions was to freeze working students' wages, which until then went up €1 per hour per year for every twelve months with the company (capped at €14 per hour after three years). Saved the company some 300k or so a year while pissing off every student there was, not like the books were balanced by this as he simultaneously raised director bonuses from 130% to 180%. Then they got rid of 350 FTEs because EBITDA only grew 11% instead of 15% they were aiming for.
Point being never underestimate human greed in corporate surroundings.
I mean, yeah - I don't. I've seen plenty of cost saving proposals and plenty of greed, I just don't think anyone trying to control their costs is automatically evil though. Your last CEO may well fall into the latter but most just muddle along if I'm being totally honest.
I never said anything about evil. The company I worked for was in the DAX and German stock corporation law stipulates that a CEO who doesn't do everything reasonably to be expected within his power to advance stockholders financial interests could be liable to legal prosecution. Pretty sure it doesn't mean you have to start saving in spots where cost control yields spare change anyway regardless of how much more that €1 an hour means to a student than an additional 10k a year does to a director.
Which is all I was saying really. I've seen MDs with no scope of responsibility but close to seven figure salaries, white elephants kept alive for no reason whatsoever etc during recessions and massive shrinking of the company, I'm virtually positive Arsenal plc isn't nearly as broke as the layoff of 55 employees would have you think.
