Just for perspective here,
1000 * $15/hr = $15,000 / hr $96,000,000 / $15,000 / hour = 6,400 hours 6,400 hours / 40 hours / week = 160 weeks 160 weeks / 52.17857 weeks / year = 3.0663929655412174 yearsThey could afford to keep those employees on for another 3 Years with that amount.
Was it baristas that were laid off or office workers? Minimum wage for their corporate headquarters is a bit over $20/hour, and I’d suspect very few corporate employees are making only minimum wage.
That might be fair, but “laid off” has the sort of vibe to it that they didn’t get to choose between minimum wage and no job. Also, the federal minimum wage is $7.25 and the minimum wage in Washington state, where starbucks HQ is located is $16.66 so yeah definitely would have to rework the math based on location of the layoffs.
Agreed, just trying to point out that if the laid off employees were corporate, not retail, the $15/hr assumption is probably pretty low. If retail, those could be spread across the country, and $15/hr is probably pretty generous. Starbucks HQ is in the city of Seattle, which has an even higher minimum wage than the state (I think $20.76/hour now?).
Had to get the money from somewhere. Just like Trump. Fire a bunch of workers for the tax cut payments to billionaires. Like clockwork.
This is the same douche canoe that was the CEO of Chipotle and denied that the serving sizes were getting smaller and told people to just harass the worker making the food if they thought their serving size was to small.
Also the same guy trying to green wash plastic waste to be customer responsibility while commuting on a private jet from Southern California to Seattle.
Wait we had permission to do that? I thought I was just being a dick and telling them to “keep going”. What a relief, too bad I won’t go back.
There’s absolutely no way he’s adding enough value compared to Joe MBA to justify that compensation.
That’s what I’m trying to do understand as well. What’s the explanation for these kinds of things? What’s the actual sequence of events and how conditions that lead to these things? Why would the board approve of this kind of compensation?
“It’s a big club, and you ain’t in it.”
I worked there back in the early aughts. It actually was a cool retail job that paid reasonably well, a few dollars above minimum, and you got company stock, benefits, a free pound of coffee a week or box of tea, you were invited to company meetings, free drinks on shift, and we did all sorts of cool volunteer stuff, like with the food bank and habitat for humanity, and we would do coffee tastings at events, all sorts of things. It honestly was a fun job lots of the time. It’s so sad it’s turned into trash.
I have never gone to a Starbucks and I never will. It’s not that hard to do that. They will never get even a penny out of me.
Fair warning, if you’re brewing coffee at home it’s still possible to buy Starbucks.
Most of the coffee at Costco is just rebranded Starbucks beans. A lot of dark roast coffee is secretly shitty Starbucks beans. If it smells like cigarettes at any point, you’ve probably got Starbucks coffee.
Shouldn’t Costco warn people if they’re gonna sell burnt ass coffee beans though?
I already have dirty toilet water at home, I don’t see why I would pay Starbucks for it.
The only reason i would go to a Starbucks is to look at the people working and buying coffee there. Or to meet a cute person behind the counter, but i have never nore will i spend money in that
Shop local. It’s just coffee. Don’t let the marketers tell you any different. For sweet creamy syrupy treats go to the ice cream store. Let’s not support the current system of the bigwig at the top who does very little and reaps most of the rewards.
Plus ordering there takes 3x longer than if I just made a coffee at home. They are not convenient unless you are traveling and have no access to a coffee maker.
Hell even my regular coffee shop does most of the
milkshakesfancy coffees that Starbucks does.I drink black coffee but they do look really good
Boycott what you don’t like. Vote with your money.
Haven’t spent money in a Starbucks for over a decade…nor fast food chains, nor Walmart.
Did do a few Amazon purchases a few years ago and I still feel guilty about it.
I’ve literally only bought two things from amazon, ever. I feel bad about it to this day :/
Thank you for defeating starbucks for us. It’s wonderful to know that this news story didn’t happen thanks to your valiant efforts!
Cap the maximum compensation gap (including bonuses and stocks) between the highest paid and lowest paid person in a company at 1000:1. Any overpay goes into a UBI account that pays out equally to all.
Should be 30 :1 on whichever is lower average or median salary and contractors count if they perform core business functions/work on location.
Then they’ll just hire Task Rabbits or otherwise divide companies by pay.
Starbucks needs more union stores. Unions can address loopholes more quickly and effectively than government legislators can. Deunionization is half the reason why inequality has skyrocketed since the 1970s.
We need to fix the root causes of inequality by building infrastructure that can’t just be destroyed by executive order.
So he literally stole their salaries. We can’t put up with millionair ceos anymore, it needs to be outlawed…
They could have paid every one of those employees nearly 6 figures instead. If the company is doing so badly that they feel they need to lay off a thousand people, they should not be handing out CEO bonuses, period.
Pretty sure a good portion of that was union busting, but that’s what we’re all about now.
This would not shock me in the slightest
I mean he has been rewarded for making the line go up. Part of making the line go up is reducing overheads. So he is being directly rewarded for actions like firing 1000+ employees. So is it a surprise?
Since I’m sitting negative I should clarify that I do not think the actions are moral. Only that he is incentivized to do things like this.
Just because there’s a financial incentive doesn’t mean you should do something. This is a step or two below murber for proflt.
I’m never said he should. I’m saying I understand why he did. I would not do the same thing in his position.
Remember most CEO’s are psychopaths so they are not very concerned with the impact on the people they fire.
I haven’t seen someone with so punchable face
96 million could pay the salaries of basically 2000 baristas
Probably how they determined the amount of the bonus. His idea, he got a cut.
There ain’t no smile in those eyes. Creepy AF.
You have to be willing to exploit your fellow humans to get where he is. Either you don’t have a soul to start with or it gets torn to bits every step you take up the ladder.
I’ve known people like that. I’ve been very close to people like that. It’s crazy, everywhere they look they’re looking for some win/something they can take. They never feel guilty. Honestly, the only thing they feel is betrayal when someone won’t bend the knee.
That’s my little observation.
Sad thing is, they still have people who love them but they aren’t truly capable of reciprocating. Everything is transactional and they always expect it to be profitable for them. The only thing that truly hurts them is when it isn’t profitable. It sucks being caught in their orbit too. Believe me.
My brother was a sociopath, unsuccessful in business but a user and abuser.
I have spent most of my life dealing with a successful sociopath. Thing is, at times it really looks like he means well.
It’s a constant battle in my head. Is it just his belief system? Is it just that he views everyone else as incompetent?
I constantly find myself making excuses for him because I love him. I get angry and I’m able to really look at everything sometimes, or he does something really shitty to someone else. Like recently, he wanted to buy tires for his son. Great, right? But he had to find a way to make it a tax write off or he didn’t want to do it. He got his daughter a car, but with the condition that her mother couldn’t drive it under any circumstances. And it had to be a flood damaged car. Good deals with the salvage titles and all.
He finally caved and sent his son money when I guilt tripped him, but he was mad for weeks about it. He’s probably still fuming. Mom ended up buying his daughter a car she couldn’t afford on credit and he gave the one he bought her to his girlfriend.
He ended up buying his son used tires because he couldn’t work it out to get the write off without sending a check and he didn’t trust him with it (with no reason to feel that way).
He built a cabin with his step brother in the 80s. They both poured blood, sweat, and tears into it. He had the money so he technically owned it, but it was understood that it was theirs with no strings attached.
When it was completed he informed him that he was welcome to use it any time he wanted, so long as his mother never stepped foot through the door. Naturally his step brother said “fuck that”, took the L and never went back.
I don’t know I’m doing dealing with it. Emotions are weird.
I understand, my brother only ever fucked over everyone else except me (probably because he knew what would happen) and it was an ever frustrating thing. I miss him but I think it’s for the best that he isn’t around to do more damage.
What ended up happening to him? Was it drugs that stopped him from being successful enough to really hurt people?
Sorry to say it like that. That’s just been my experience.
He got hopped up on coke and booze and tried to kill a random driver with one of his beloved guns and they ran him down.
I trust you know this person well and that your experience is accurate.
However, you might find it useful to look up coping mechanisms in dealing with someone with OCPD. OCPD is extremely common and people with this personality disorder usually are extremely miserly and controlling. I’m not saying your person has this disorder. But from your story, the issues with money align closely enough that the tools people use in dealing with OCPD miserliness might help you. Or at the very least it might help you feel less alone in that experience.
I’m really sorry you are having to manage that and deal with this person. You sound like a very reasonable and empathetic person yourself. Please do something small and kind for yourself tomorrow. ❤️
Mr. Beast smile
