Meta's executive officers could earn a bonus of 200% of their base salary under the company's new executive bonus plan, up from the 75% they earned previously.
Not only is it perfectly legal but the executives would argue that they are bound by their fiduciary duty to their shareholders. Layoffs increase stock price => shareholders make money => shareholders approve bonus for executives.
of course. gut the workers to pay for the executives yachts. how is this is legal boggles my mind.
tHe AmErIcAn DrEaM
“They call it the American Dream because you’d have to be asleep to believe it!” - George Carlin
It’s legal because we live in corporate dictatorships masquerading as “democracy”.
Not only is it perfectly legal but the executives would argue that they are bound by their fiduciary duty to their shareholders. Layoffs increase stock price => shareholders make money => shareholders approve bonus for executives.