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
39.1k Upvotes

81% Upvoted

3.9k comments sorted by

View all comments

5.0k

u/SLAV33 Jan 13 '23

If this happened instead of them laying off 100's or 1000's of employees good on him and Apple.

935

u/Beny1995 Jan 13 '23 edited Jan 13 '23

Unlikely. Tim Cooks' salary is $3m so -40%= $1.8m. I'd wager he isn't taking a cut on his bonuses.

Meanwhile Meta laying off 10,000 employees with an average wage of $100,000 (very conservative estimate) equals an annual saving of $1bn. Almost 1000 times more saving.

Now, if all apple SVPs and VPs take similar paycuts, we might be in the same ballpark.

Edit: yeah fair dos I didn't read the article, it's his TC getting cut not his salary. Still my point stands that the saving won't come close to layoffs.

238

u/Thetacoseer Jan 13 '23

2nd paragraph of the article. His base pay and cash incentive are not changing. His equity compensation is being reduced 40%, which takes his total target compensation down from $84m in 2022 to $49m in 2023

49

u/TravellingReallife Jan 13 '23

Might need to cut out the avocado toasts.

0

u/trouserschnauzer Jan 13 '23

Definitely going to have to do without eggs for a bit.

-5

u/CUM__IN__ME__BRO Jan 13 '23 edited Jan 13 '23

Haas avocados are literally like a $1.20 each. I could eat a haas avocado everyday of the year for less than like a 438*** bucks. Edit: my math 👎

2

u/thelowgun Jan 13 '23

Might wanna redo your math there...