For those of us who have recently been told by the venture capital community to pound sand, it is time for a little schadenfreude.
715 tech companies have laid off approximately 199,845 people so far this year. Last year was 164,000. Welcome to America.
The study was based on salespeople’s commission compensation levels in a call center. But one fact was puzzling. Even when they cut commissions of the very best salespeople, they stayed on, because they were making a lot of money, and they couldn’t get a better deal at another company. I did a two-step. Yes, the least valuable employees were cut. Then I went to a select group of the key management and business development folks and asked them if they would accept a temporary reduction in pay, a deferral, with the full intent that if we survived, it would be made up in whole. Then I offered some additional stock option grants, “a spoonful of sugar helps the medicine go down.”
There is one caveat to a pay cut. The CEO must be transparent and show all the numbers and make a compelling case that there will be a light at the end of the tunnel. And he/she must take the deepest cut.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NCAA baseball: Stanford in tough spot after coughing up lead to Texas A&MNCAA: Stanford allowed three runs in the top of the eighth inning in a 8-4 loss to Texas A&M on Saturday night
Read more »
'It was tough': WWII veterans return to Utah Beach to commemorate D-DayDozens of World War II veterans have traveled to Normandy this week to mark the 79th anniversary of D-Day, the decisive but deadly assault that led to the liberation of France and Western Europe from Nazi control.
Read more »
WWII veterans return to Utah Beach to commemorate D-Day: ‘It was tough’Looking at the vastness of Utah Beach, its sand blowing in strong wind and bright sunshine, made Robert Gibson's memory of D-Day even more vivid.
Read more »
Federal trial set to begin over Oregon’s tough gun control measure approved by votersA federal trial over Oregon's voter-approved gun control measure is set to open Monday in Portland, marking a critical next step for one of the toughest gun control laws in the nation after months of being tied up in the courts.
Read more »