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JPMoney81 t1_j6k9i4o wrote

Reply to comment by skilliard7 in Philips to cut 13% of jobs in safety and profitability drive by 4Wf2n5

Philips' CEO's salary for 2023 is 6.7million USD. I can see another way to improve the company's financial situation.

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skilliard7 t1_j6kbsxa wrote

Philips lost $1.3 Billion USD last quarter. The CEO's salary is a drop in the bucket compared to how much they need to cut.

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JPMoney81 t1_j6kfc9b wrote

Would be a start.

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skilliard7 t1_j6kfhwa wrote

$6.7 Million isn't exactly competitive for a CEO of a company of that size. If they cut their salary to $3 Million, the CEO will likely find a job elsewhere, and they'll end up needing to pay several times more to find someone qualified to run the company.

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ISAMU13 t1_j6mxuk6 wrote

Won't work for $3 million?

I guess "Nobody wants to work anymore." /s

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skilliard7 t1_j6n19be wrote

The CEO will work, just for another company willing to pay a more competitive rate

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ISAMU13 t1_j6n9nyd wrote

How is he gonna get a more competitive rate when fucked up the last company? Why reward mediocrity?

He is no Satya Nadella.

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