To think the new CEO is an insensitive twat??

[Rona95]

The entire company were pulled into a Zoom meeting today to meet our new CEO.

When it's his turn to speak, he proceeds to talk about the fact that, in the next fiscal quarter, the company will be worth $1b (Canadian company), I'm based in the UK, as are many of my colleagues.

He then tries to drive home how we need to keep working hard so they can make a good profit, and that they currently have $1b in the bank at the moment. No mention of our salaries going up, and I know myself and my colleagues don't make much more than minimum wage.

I honestly felt so angry! Living costs are rising internationally, people are struggling to survive on the salaries we make, and the company are telling us we need to make them more so they can get richer.

How out of touch are these morons??!!

So true. All you can do is vote with your feet.

I totally agree. If I were you I'd be taking this as a massive red flag that new CEO intends to drive you hard with no reward, and start looking elsewhere for a new job if you can.

He's not saying he earns that though... it's the company that is valued at that amount. companies do need to grow to be able to keep everyone employed. It's his responsibility as the CEO to make that happen. Presumably if revenue and profits grow, you will be in a stronger position to ask for a pay rise.

Yeah, CEOs are surrounded by this kind of stuff all the time and they often forget that this is not what motivates rank and file employees. It is thoughtless and clueless and suggests they are a second rate leader I'm afraid.

Talking about maintaining and increasing corporate profits in the middle of a cost of living crisis without mentioning how employees will benefit from corporate success is not motivational. They have just given a version of the "see these 10 sports cars in my garage, if you try your best, work hard and sell big then one day it will be 11."

@itshappened

He's not saying he earns that though... it's the company that is valued at that amount. companies do need to grow to be able to keep everyone employed. It's his responsibility as the CEO to make that happen. Presumably if revenue and profits grow, you will be in a stronger position to ask for a pay rise.

CEOs are also leaders of people. It is not up to the employees to join up the dots between corporate profits and their pay, especially as in many cases they seem to not be connected at all. It is the CEOs job to ensure employees are motivated and engaged in achieving the companies mission. If you think that saying "You better work hard so our shareholders can make more money" is motivational to a minimum wage employee with no bonus scheme you are sadly mistaken.

This.

He sounds like David Brent. The good news is you're going to make a lot of money for the company (and me). The bad news is that you're not going to benefit from it at all.

Totally tone deaf.

I think possibly your financial understanding is limited, I mean that politely

but the company cannot be worth both 1 billion and have a billion in the bank. That makes no sense.

a company’s worth is based on a multiplier of ebitda, earnings before interest, tax debt and amortisation . If the company has a billion in cash flow it would be worth a lot more. It’s also very hard to accurately valuate a company . The multiplier is subjective.

So I’d say maybe this company is with about a max of 200 million in terms of cash flow, assets, future contracts etc. using an 5 multiplied, earnings are very different. It can be break even.or even making a loss.

I think maybe you’ve not understood what you heard ?

THIS IS ANOTHER OLD THREAD BUMPED BY A TWAT hth

Oh no…

Rather than be a goody yourself and reverting to childish name calling, have a look at the main page topics!

MN is directing posters to old threads by highlighting similar threads from the current main board topics. HTH!

Damn. I was about to ask if the new CEO was the Musk Rat ...