Thousands of jobs get slashed, but CEO payouts keep growing. Why are workers bearing the brunt while execs walk away richer than ever? Here’s how to

No More Layoffs with a Payoff: It's Time to Freeze CEO Salaries

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2024-11-01 23:30:04

Thousands of jobs get slashed, but CEO payouts keep growing. Why are workers bearing the brunt while execs walk away richer than ever? Here’s how to fix the “shared sacrifice” myth.

In 2022-2024, layoffs ripped through industries, with tech and retail giants cutting roles at unprecedented levels. But during the same period, the people making these decisions—the ivory tower dwelling CEOs— saw their paychecks get fatter.

Example: Sundar Pichai, CEO of Alphabet, took home over $225 million in 2022, a staggering increase. But in January 2023, Alphabet announced plans to reduce its global workforce by 12,000 positions, representing about 6% of its employees.

If an organization sheds a significant percentage of its workforce to “right the ship” financially, shouldn’t CEOs also feel some financial impact? If the buck stops with them, shouldn't the fuck start with them too?

Here's a straightforward solution: freeze CEO pay and stock options and prevent stock sales for a year following any layoffs that exceed 5% of the workforce.