If you were pulling in more than 100K, you now lost 15-30% of your salary. Supposedly temporary.
This is your SECOND invitation to leave. I am sure many now will accept, which is EXACTLY what they want.
Happy Hunger Games. May the odds be forever in your favour.
Executrons make most of their $ through a combination of stock options and bonuses. Taking a salary cut is no big hurt for these folks. It's only a PR ploy to "improve" the moral of the worker bees.
Paul's total comp in the most recent reported year was 7.9m
His base comp was 1m. So his give was 40%, or 400,000 in base comp.
His total comp for the year would still be 7.4m.
Don't weep for Paul, I think he will be OK on a 7.4 million dollar a year budget. Might have to reduce the personal private jet travel a tad, but everybody has to tighten the belt! /s
The executives’ majority pay is stock. Salary normally only counts less than 20% of their total pay. The pay cut is for salary only, not the whole pay package. So they just take less than 8% (0.2X0.4=0.08) pay cut. It is the majority of salaried workers take the main hit.
Sounds like they did not follow the Federal WARN or NC mini-WARN act. Hmmm? Maybe NC Social Services gave them a pass and the Media doesn't want to make it worse
Good luck everyone still left, the company was already on the low side of average, but anyone taking a cut after that is really being slighted, don't be afraid to look after C19 finishes, there are places that will be more stable and pay you more
According to Yahoo Finance, Paul Black makes $2.47M a year as CEO. He's also probably entitled to get plenty of Stock Options on a yearly basis.
40% less of way more money than most of us will ever make is still way more money than most of us will ever make.
FYI.
I don't have Paul Black's salary, but my records show that as of 3/31/2019 Rick Poulton was taking in $615,000 and was eligible for a 100% bonus. Considering he's the Allscripts #2, that gives us a better picture of what Paul Black is making. Even at a 40% cut, he's still taking in at least $369k/year.
I have been with the company over all 20 years and I was just let go... reason they said was due to COVID-19
I was let go and feel bad for those left behind! NO raise, no bonus, potentially a pay cut and twice the work.........bless all those left behind!
I live in a high cost area and 100K is nothing here, you can barely live...
They didn’t take into account cost of living per where you live. 100k in San Francisco is way less than 100k in Raleigh. If you do the salary calculator for cost of living.
No one asked what you thought LOL @heg+14n6BICL
Hey, @rzu+14n6BICL
I think you need to learn what sarcasm and snark are?
Employees are suffering, yet again, for the company's poor financial decisions. It has nothing to do with COVID-19.
Who gives a c-ap if he's giving up 40% of his salary? He can still live on what he makes - PALEEZE! Don't Com'on Dude us - you com'on! They are still getting bonuses paid out from last year, yet laying people off left & right. IT'S COMPLETELY INAPPROPRIATE THAT THEY STILL PAY OUT THIS BONUS DURING THESE TIMES! Allscripts EXEC Management = greedy pockets.
C'mon dude. Paul Black is taking a 40% pay cut himself, I mean that's pretty f*cking magnanimous! I'd be hard-pressed to live on more than Ramen Soup and crackers on only $1.5M (officially) a year. You just ignore all those stock options, they're meaningless.