r/technology Jan 13 '23 Bravo! 1 Helpful (Pro) 1

Apple CEO Tim Cook to take more than 40% pay cut Business


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u/BigGreen4 Jan 13 '23

According to the articles, this was his idea, after having listened to feedback from shareholders. He then put it to the shareholders to vote and they agreed, about 66% in favor of the new compensation package.

I just hope the funds saved will remain in employee compensation and be redirected to the employees. This would be a big step forward. (I understand that’s wishful thinking.)


u/Z23kG3Cn7f Jan 13 '23 edited Jan 13 '23

Apple is worth over $1TN in the bank.

It's their choice to not pay workers decently

Edit: I corrected it to worth, not cash. My bad.


u/Dman5891 Jan 13 '23

Fun fact; if you spent a million dollars a day from the day Christ was born you would have spent less than 3/4 of a trillion dollars.

Pay your workers Timmy.


u/GroverMcGillicutty Jan 13 '23

Apple is spending a hell of a lot more than a million a day in wages.


u/Part_Timer_99Y4 Jan 13 '23

Good to know they’ve been around longer than Christ


u/ImNotAWhaleBiologist Jan 14 '23

Yeah, didn’t they start in Eden?


u/TaralasianThePraxic Jan 14 '23

This joke really deserves more credit


u/Part_Timer_99Y4 Jan 14 '23

Fuck me that is a solid one liner


u/[deleted] Jan 14 '23 edited Jan 14 '23



u/MEME_RAIDER Jan 14 '23

In this moment I am euphoric. Not because of any phony God's blessing. But because I have been enlightened by my own intelligence.


u/LifeHasLeft Jan 13 '23

Yep, they’ve got 160,000 employees, assuming the average salary is in the 100,000’s, they’re paying at least 40,000,000 a day in wages. Sure many Genius Bar employees will make less but there are also people making several hundred thousand dollars a year, or into the millions like Cook.


u/Blazing1 Jan 13 '23

That's.... A lot less than I expected.


u/[deleted] Jan 13 '23



u/pinkskydreamin Jan 14 '23

Their math is actually right, but yours seems wonky.

160,000 * 100,000 = 16,000,000,000 That’s 16 billion a year. Not sure where your 1.6 trillion comes from.

Further, 16B/365 = ~43,835,616.44 Or just north of 40 million per day.


u/Arful Jan 14 '23

Not that I agree with the dude, but he did say $40m a day, not per year.


u/Syntaire Jan 14 '23

At that rate it would take them about 68 years to spend their way through $1T.

Put another way Apple would have to spend about 20 average lifetimes worth of money every single day for most of a single average lifetime to burn through less than HALF of their current net worth.


u/LifeHasLeft Jan 14 '23

You can’t spend net worth on wages. I think they could increase the low end of their wages too, but they don’t actually have $1T in the bank.


u/Syntaire Jan 14 '23

Obviously. This is a theoretical discussion to illustrate just how much they are worth.


u/sirgenz Jan 14 '23

I really hope not a single person talking shit in this thread currently owns any apple devices


u/LifeHasLeft Jan 14 '23

I didn’t know estimating dollars spent on wages was talking shit


u/sirgenz Jan 14 '23

I didn’t mean it specifically to you, I just didn’t know a better comment to reply to. I meant it in terms of the people saying that apple has too much money and doesn’t pay their employees enough, but still has the “sent from my iPhone” receipt on their emails.


u/LifeHasLeft Jan 14 '23

I think it’s fair to criticize a company for their choices in providing an equitable wage while also owning that company’s products. I like their phones, they make good products, but I think, like with many other companies, there is a striking disparity between the compensation package of the CEO and the measly Genius Bar customer service representative.


u/sirgenz Jan 14 '23

I get what you’re saying, I just think that people drawing pitchforks & foaming at the mouth that “apple bad” for having too much capital that doesn’t go to the employees is hypocritical if they contribute to that large amount of capital.

Don’t get me wrong, I think apple employees, along with every single other employee, should get paid a living wage, I guess I was just initially trying to point out something that didn’t make sense to me


u/mbklein Jan 14 '23

If I want to own any cell phone (or any other consumer electronics) at all, it’s going to come from a company with an unethically large disparity in compensation between the workers who made the phone and the executives who run the company. It’s not necessarily hypocritical to criticize the practices of companies you do business with, especially when the reality of modern existence requires you to do business with someone in a sector with no ethical options.

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