Hasnain says:

“When high-ranking executives make a serious blunder, they almost always get the benefit of the doubt. The modern executive lacks any actual responsibility or oversight, only occasionally reporting to typically pliant boards. They're largely insulated from the consequences of their actions, even if they're performing poorly. If any other kind of worker made a series of decisions that led to a double-digit drop in profitability, they'd be threatened with termination or terminated. Instead, tech CEOs have passed the pain off to people who in many cases were performing well in their roles. And while many employees in tech and elsewhere have received generous severance packages, they pale in comparison to the payouts that failed executives have gotten on their way out the door. Take, for example, the car-rental company Hertz, which let go of 10,000 people in 2020 as it stumbled into bankruptcy, all while paying its executives $16 million in bonuses.”

Posted on 2023-02-06T20:07:06+0000