Why do companies typically choose to implement layoffs affecting numerous employees rather than considering salary reductions for top executives like the CEO?
In: Economics
Executives overestimate their importance AND value. The CEO of my employer makes 750k per year and couldn’t tell you what the staff actually do. Yes they have high pressure and responsibility but that is not the same as competence or value and they make inadequate and out of touch decisions all the time because their advisory boards are made exclusively of other executives, so often there’s no one even in the conversation to humble them
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