“Do you think it is appropriate for management to be giving extraordinarily large pay increases and severance agreements to senior executives and at the same time demand the workers take an 8% pay cut and reduced benefits? “
Anyone forcing anyone else to work for that company? Are they slaves? The average employee at Hostess seems to have made over $60,000 in total compensation. How is that compare to your wild assed claim that CEOs make 353 times the average? Sure seems like a lot less than that. Not bad for employees with barely an education operating machinery and trained to do so by the company.
Let’s put it this way: A high school dropout could make in total compensation over $60,000 at that company and decided to piss it all away for a mere $3,000 in pay cuts. Stupid people.
“How is that compare to your wild assed claim that CEOs make 353 times the average? “
I’ve given you the data backing up my claim. Can you not read?
The Hostess CEO asked the bankruptcy court to grant him a guaranteed $1.5 million salary and $2 million bonus for a total of $3.5 million. If your average employee compensation number of $60,000 is correct, the CEO would be making 58 times the compensation of the average employee. Not bad pay for a guy who managed a company back into bankruptcy in 3 years.
The news reports say the company was asking for an 8% reduction in pay. On a $60,000 average salary, 8% is $4,800, not $3000. In addition, the union employees gave back $110,000,000 in 2009 when Hostess exited bankruptcy the first time. That equated to $5,500 per employee.
I have yet to see any evidence anyone in senior management took a cut to help the company survive. I have seen, and provided you with links to articles stating management salaries were increased dramatically. If the situation was so bad the workers were being asked to take pay cuts, why were increases being given to senior executives?