this post was submitted on 25 Oct 2024
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Work Reform

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Microsoft boss Satya Nadella will earn a wallet-busting $79.1m (£60.9m) this financial year, up 63 percent on his compensation for 2023.

The huge boost to Nadella's pay in both cash and stock, announced by Microsoft last night, comes after a positive year overall for the company's financial revenues - but a turbulent 12 months for its employees.

2024 has seen two mass layoffs at Microsoft, with 1900 staff laid off in January, before a further 650 Xbox employees were shown the door in September.

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[–] [email protected] 10 points 13 hours ago (1 children)

As long as they're generating profits then that wealth will not go to the people who lose their jobs. They'll just be a surplus population.

[–] [email protected] 4 points 12 hours ago (1 children)

*in America

Americans have to realise there are other ways to run a country. What's going on there isn't normal for the rest of the world.

[–] [email protected] 6 points 12 hours ago (1 children)

Profits by definition only go to the owners and investors. Once they're seized by the government they're no longer profits, they're company expenses.

[–] [email protected] 1 points 1 hour ago (1 children)

Those are the only two options?

[–] [email protected] 1 points 1 hour ago

For corporations, yes. Profits are always the money left after expenses that are taken as surplus. I suppose there's also cooperatives, which redistribute the profits to the member-owners.

But profits are for the owners. That's how private property works?