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

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

https://apnews.com/article/technology-apple-inc-tim-cook-business-d056553b10120c4a968b562cb7ece5d2
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203

u/FoghornFarts Jan 13 '23 • Gold All-Seeing Upvote Take My Energy

partly based on a recommendation from Cook himself

Labor advocates have been pushing for lower CEO pay and fairer standards for compensation for a long time. Here is (seemingly) an example of that happening, and it strikes me as really weird that there isn't more appreciation for that. Instead, all the top comments are shitting on Cook.

It just makes y'all look like you're just jealous of rich people rather than actually caring about fairness or systemic change. I get this is one isolated incident, but Apple is a very successful company. I would consider them the gold standard for American S&P 500 companies. They're highly profitable, they create a very solid product, they generally treat their employees well, and they've been an industry leader in not only innovating but delivering on that innovation (looking at you Tesla!). Think about how much better life would be for Americans (both consumers and workers) if the majority of S&P 500 companies adopted similar cultural values.

17

u/die_nazis_die Jan 14 '23

Even after the pay cut, he's still making 3x what he was pre-pandemic... This is literally "two steps forward and one step back" for his pay. It's still a raise overall.

8

u/zaviex Jan 14 '23

His pay was based on stock performance that’s why he made so much in those years. The company wanted to cut it and he agreed because the stock is flat and the company isn’t going anywhere. He didn’t jack it up and then lower it, all of this was predictable just looking at stock prices.

1

u/chamon- Jan 14 '23

He is the CEO of the biggest company ($) in usa.

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u/iMissTheOldInternet Jan 13 '23

He's still making like $40 million a year. The fact that he can cut his own pay by 50% and still be making more in a year than the average American would make in twenty lifetimes is an illustration of why people are mad. It's monopoly money to the people at the top while people at the bottom are working themselves to death because they can't even afford to retire.

9

u/tpx187 Jan 13 '23

But at least they'll have an iphone

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u/[deleted] Jan 13 '23

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7

u/iMissTheOldInternet Jan 13 '23

This is exactly the kind of innumeracy that keeps this shit happening

3

u/lol_ok123 Jan 14 '23

You sound like a communist

-1

u/[deleted] Jan 13 '23

It’s literally how businesses operate. With the amount of revenue that company makes and how much he’s done for those who use Apple devices is pretty outstanding. Has he made money driven decisions? Yes. Why? Because it’s a business intended to make money.

3

u/iMissTheOldInternet Jan 13 '23

I guess also the complete lack of historical context helps. But really, probably just the innumeracy would do.

1

u/[deleted] Jan 14 '23

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1

u/MrGalax22 Jan 14 '23

Do you really think Tim Cooks "decisions" we're 500% more important than the other people in apple who actually were responsible for designing products/software. Or the engineers building it or the marketers pushing apples aesthetic? Cause that's what his initial salary raise was. From like 2 million basically to almost 100 million during COVID. It's ridiculous to me that any person can have such an over inflated view of a CEOs importance when he himself answers to a board. Is he valuable absolutely, did he make decisions that probably made the company ridiculous amounts of money yes. Do I think apple would collapse if he retired tomorrow no. Do I think he's in design meetings, UX meetings, marketing meetings, security meetings, etc? Hell no, he's put incredible people around him who've continued apples dominance that does not mean he should make 10000x what his employees do.

-2

u/cgmhdblog Jan 13 '23

I don't think you know what innumeracy means.

-1

u/PM_ME_KNOTSuWu Jan 13 '23

Neither do you because we both know you had to Google it.

0

u/BarnabasBendersnatch Jan 14 '23

"It is how it is now suck it up you filthy slave."

0

u/[deleted] Jan 14 '23

What the fuck does that even mean? Do you know how well their bottom tier employees make? Or are you just generalizing and looking for a reaction?

Two serious questions: How much is an acceptable salary of the CEO of Apple? What is your acceptable bottom limit pay?

0

u/BarnabasBendersnatch Jan 14 '23

You basically said this is how it is and that's that. I think it doesn't have to be. I think it's bullshit that one person has more money than they will ever be able to spend while there are so many others barely or not getting by.

There's just no way his labour adds that much value to the company.

1

u/chamon- Jan 14 '23

Go to cuba bro

1

u/[deleted] Jan 14 '23

So if you think alternatively, usually you’d provide an alternative solution. What realistically do you think it should be instead?

I’m looking for an open discussion.

0

u/Shift_Spam Jan 14 '23

Made it to the top at one of the biggest companies on the planet so you should probably be able to afford the nicest stuff so let's see so he gets 100 million dollar grand mansion and expansive property, on a 25 year mortgage = 4mil per year and a couple lambos and things for entertainment and fancy restaurants for a couple more million. So let's say 6-8 million a year

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u/[deleted] Jan 14 '23

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u/[deleted] Jan 14 '23

Yeah. I’ve never said anything about capping. People are bitching even after he took the pay cut. So what’s acceptable? No one will tell me.

1

u/[deleted] Jan 14 '23

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1

u/[deleted] Jan 14 '23

Remarkable response. I couldn’t agree more with your statement. People consistently direct their hate in the wrong direction.

Thanks for taking the time to write that.

21

u/charklaser Jan 13 '23

I think you hit the nail on the head -- they're just jealous and angry.

3

u/LunarMuphinz Jan 13 '23

Not jealous, just angry, because he still makes 20 lifetime salaries a year and his employees don't even make a living wage.

That's hardly a pay cut, that's like buying half as much ice cream for your $24k ice cream freezer.

20

u/DavoinShowerHandel Jan 13 '23

Don't know how much the average Apple retail store employees make, but if you work for Apple corporate (STEM, marketing, supply chain, etc) I can assure you they are making more than a living wage.

17

u/charklaser Jan 13 '23

All Apple employees are well paid. That's may not be true for all companies that Apple buys components from, but Apple pays people well.

9

u/Mr_Xing Jan 14 '23

Apple employees are not underpaid… wtf?

13

u/akshanz1 Jan 13 '23

What are talking about, Apple employees are some of the highest paid in America

10

u/Eggplant_Jumpy Jan 13 '23

My friend used to work support. He got healthcare too. Company matched his donations. Gave great time off. Legit just a college student, so no experience at all. Apples pretty great. The third party company treating the part makers bad isn’t really apple’s problem. Apples great.

2

u/Bad-news-co Jan 14 '23

And if every other company valued privacy as much as apple always has. You can put google, Facebook/Instagram, Amazon, Twitter and Microsoft all in the same sentence when it comes to it, but including Apple wouldn’t make sense. They’ve valued customer privacy, they’ve made it so apps won’t take advantage of you without asking you, they know developers can pull some sneaky shit on the user and can’t trust them to put up a pop-up asking to access private information because they don’t know if developers will adhere to that standard, so apple does it for them.

3

u/TheInfinityGauntlet Jan 13 '23

Where is the systemic change you speak of? Nothing has actually changed, he drops 1.2 million still has HUNDREDS OF MILLIONS in stocks and none of the money gets shifted to anybody down stream

My god I hope he gave you some of that lost pocket change for all this cock gobbling

7

u/[deleted] Jan 13 '23

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0

u/G0G023 Jan 13 '23

Apple sucks now and they’ve been on a slow and steady decline. They haven’t truly be innovative since Mr. Black Turtle Neck. They’ve just been riding his success like a trust fund baby’s wannabe rap career. They nickel and dime people now because they’re product is a status symbol and apparently can get away with it beautifully. How much money they made off of cutting costs by not provided charging blocks and other accessories, along with the planned obsolescence insane. It’s ridiculous. Their i cloud system is literally rigged to store up as much space to get you to buy more storage monthly forever. No one ever went bankrupt betting against the intelligence of the normal everyday human

6

u/ThePwnHub_ Jan 13 '23

You might think Apple sucks, but they have over 50% market share of the smartphone industry. They are clearly doing something in an industry that has many options for products that people can buy. People are buying it because they like it and they obviously do not think it sucks

0

u/G0G023 Jan 14 '23

I believe their quality has significantly gone down and they are relying on their previous reputation and social norm as their quality of product, and quality of service has consistently gone down over the past 10 year period.

I could care less about their market share. I care about the product, and I have seen it decline steadily. That’s why I think Apple sucks. Riding the coat tails of their previous owner and it shows

-2

u/FoghornFarts Jan 13 '23

That's fair. I suppose I was thinking of the bigger picture with stuff like releasing the first iteration of the modern smartphone or lower-plastic packaging or more gender neutral design and branding.

-2

u/bluedreamon Jan 13 '23 edited Jan 13 '23

I mean it is pretty obvious front page Reddit shamelessly hates anyone with a modicum of success and the implication that work ethic may have been involved with the aforementioned success.

-1

u/Lehmanite Jan 13 '23

It’s also because Reddit is filled with socialists who will shit on any structure that doesn’t align with their labor theory of value.

0

u/trunts Jan 14 '23

True. When you're making 30% off of all the apps on the app store it definitely adds up. Definitely a gold standard to live up to. Im kinda of pissed off google's play store doesn't force developers to hand over 30% of their earnings.

1

u/G0G023 Jan 13 '23

Cuz Tim Cook sucks.