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/royhaven Jan 13 '23 • Gold Take My Energy Eureka!

You really can't make people happy on reddit.

Company has a RIF and reddit's reaction is "shouldn't the CEO look at cutting his own salary?"

CEO cuts his own salary and reddit's reaction is "He's still getting paid too much".

This article wasn't aimed at making you feel sorry for Tim Cook. It was simply pointing out what happened.

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u/InitiatePenguin Jan 13 '23 • All-Seeing Upvote

CEO cuts his own salary and reddit's reaction is "He's still getting paid too much".

He cut down his salary to 3x his salary three years ago after spiking it 8x over the pandemic.

17

u/Kelter_Skelter Jan 13 '23

What are the actual annual salary numbers per year? I know you're leaving it out to shorten your response but it would be beneficial to post that in a thread like this

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u/InitiatePenguin Jan 13 '23

14 mil and change before the pandemic and 98 after. 49 moving forward.

The income salary portion remained constant at 3, additional compensation like equity and cash incentives are what ballooned. It's all in the article.

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u/Davesnothere300 Jan 14 '23

Holy fuck, this should be in the title.

This isn't an act of charity whatsoever.

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u/leafs456 Jan 14 '23

its funny because his salary is comparable to top tier athletes yet reddit for some reason never complains about that. ig we pick and choose who we think is overpaid

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u/Tnwagn Jan 14 '23

Comparing professional athletes, who are the primary reason people pay to attend sporting events, buy merch, etc with the CEO of a tech company which has millions of people across the globe doing the actual work to make the goods and services that company's customers buy isn't a good example.

Pro athletes are paid ludicrous salaries which should be better shared with the entire workforce that enables those sporting events, but their direct input resulting in money into their organizations is enormously more significant than Tim Cook's contributions to Apple from a revenue generation standpoint.

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u/leafs456 Jan 14 '23

i can tell you lack work experience by arguing athletes are far more valuable than what good leadership brings to a company.

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u/MrGalax22 Jan 14 '23

Lmao you must be joking, atheletes are in the .001% of their respective fields and draw in billions of dollars annually. They did an economic report on Lebron James impact and found his value to LA was something like 400 million dollars and over 2000 new jobs. From the ticket sales, arena revenue, local restaurants, hotels, local shops, Jersey sales, sneaker sales. Almost every local industry benefits from the direct impact of HIS talent and HIS greatness. If he suddenly lost all his talent literally millions of dollars of revenue would be lost. Tim cook doesn't even have unilateral power over apple he answers to a board. You could literally replace him with anyone and that company could still, produce phones, market, produce software and sell to customers. Ridiculous take by you honestly

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u/InitiatePenguin Jan 14 '23

Literally in the article:

The company plans to position Cook’s annual target compensation between the 80th and 90th percentiles relative to its primary peer group for future years, according to the filing.

That's after a 40% reduction.

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u/LookAtYourEyes Jan 14 '23

It's in the article