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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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.

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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.

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u/nanlinr Jan 13 '23

Um, read the article and compare the numbers? It's a 40% cut to his total compensation including equity awards.

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u/Bill_buttlicker69 Jan 13 '23

Classic reddit lol