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Pay Cuts for Bosses to Keep Companies Afloat

In the News

https://www.bbc.co.uk/news/business-52182153

I had read that the Nationwide boss had agreed to a pay cut, and now More company bosses have agreed to take pay cuts, as firms continue to suspend thousands of staff and slash wages.

more company bosses have agreed to take pay cuts, whilst firms are continuing to suspend thousands of staff and slash wages

I suppose it’s only the plausible way to keep things going, and a boss can only be where he/she is by continuing to support the people that help keep things ticking

I do hope that there will also be some changes made to other sectors also

hspexy
2 months ago
What do you think of this?
blacklabrador
blacklabrador2 months ago

I guess it makes sense in the long run.

As an example - Better to be the boss of a company that's still around in a years time and earn £140,000.

Rather than stick to your £200,000 yearly wage and then find you've not got a company to be in charge of.

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Johnny
Johnny2 months ago

I guess some of the FTSE 100 chief executives can afford to take a pay cut

The average 2018 CEO salary of £3.46 million a year was more than 117 times that of the average (median) UK full-time worker earning £29,574.

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AgnesFaludi
AgnesFaludi2 months ago

Sure Amazon owner had no pay cut.

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Johnny
Johnny2 months ago

AgnesFaludi If you mean Jeff Bezos, CEO who has a minority shareholding (about 12%) probably not. That said he is exceptionally generous with his wealth.

For example he contributed a total of $2bn to good causes in 2018 through his Bezos Day One Fund, a philanthropic vehicle founded by his ex-wife MacKenzie Bezos.

You probably own some of Amazon yourself via your pension fund.

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AgnesFaludi
AgnesFaludi2 months ago

The best example to this is the PM.

He is sick, in hospital, but he is still leading the country and gets full pay? or did he also get a pay cut? 80% but most of the companies reduced 30%....

You get sick u have to isolate 118 pounds a week and u can not live from that amount.

U get reduced pay, locked down, have no other jobs to take and earn more.

No one tells if the lock down working...????? but it seems from the figures, it does nothing. Looking on the charts it is not dropped down rapidly from staying home. And lots of people are outside. I see more of them then on a normal working day, because they exercise? like pandemic make everyone hardcore to get to be an athlete. This will never work because of them.

And who knows if we had it or not...there is not test to check it. I want to go back to work to earn money.

And today I had a phone appointment after 1 month of waiting about my hand. I mean, it needs to be seen. The doc should see my hands right? For 3 months I need to wear wrist support and normally they give u free, but it is Pandemic. "order it from Amazon"....and if u start drop things call us...I mean if I will start to drop things that is a bit late...I saw in the tv people not getting cancer treatment because of the virus and they could be saved too and may die because of this. It is sad. I know people with the virus are important, but I think the rest of the others should be too. It is a moral issue and none should be more important.

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hspexy
hspexy
Original Poster
2 months ago

I agree with you. The world has been put on hold for something that there is no certainty about. But what we can be sure of is that the economy will face difficult times ahead, more than what money can sort out. And there’s a lot of surgeries that have just been cancelled - not sure how the nhs will catch up. At the moment, all offerings will just patch up some problems, but in the long term, we have a real battle ahead. I hope your hand issue gets seen to soon

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