Thread regarding T-Mobile layoffs

John Legere got $137 million severance for completing T-Mobile/Sprint merger

Old news but still staggering to contemplate when you consider regular T-Mobile employees severance....

John Legere got $137 million severance for completing T-Mobile/Sprint merger

T-Mobile paid then-CEO John Legere $137.2 million in 2020, a year in which he worked three months and then left on the day he completed T-Mobile's purchase of Sprint.

Legere's 2020 compensation was revealed yesterday in a filing with the Securities and Exchange Commission (see pages 49 and 50). Legere was previously paid $27.8 million in the full year of 2019 and $66.5 million in 2018, mostly in the form of stock awards. His 2020 compensation of $137.2 million did not include any stock awards—instead, it consisted of a $136.55 million severance payment, $600,000 in salary, and $50,000 in reimbursement for legal fees.

Mike Sievert, who replaced Legere as CEO, received $54.9 million in stock awards, salary, bonuses, and incentives in 2020, up from $16.4 million in 2019 and $35.6 million in 2018. He was previously the COO.

https://arstechnica.com/tech-policy/2021/04/john-legere-got-137-million-severance-for-completing-t-mobile-sprint-merger/

by Blown Away
| 1311 views | | 5 replies (last September 27, 2023) | Reply
Post ID: @OP+1oKF5eO0
Comment! It's anonymous!

5 replies (most recent on top)

TMO CEOs went from incompetent [Dotson] to overpaid [Sievert].

by Anonymous
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Post ID: @4zcl+1oKF5eO0

No one deserves $350M.

by Anonymous
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Post ID: @4jme+1oKF5eO0

Legere deserved every $ he earned

by Anonymous
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Post ID: @3cyr+1oKF5eO0

They worked harder than I ever did and ever will in my opinion. Congratulations for them getting paid!

by Anonymous
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Post ID: @1aco+1oKF5eO0

John Legere saved T-Mobile and built it into a powerhouse. He began his T-Mobile career under extreme scrutiny from employees after his dubious stint at Global Crossing. He reinvented himself with what, IMO, was a completely phony cartoon persona that eventually became genuine and warm, winning us all over. He stayed true to his word from his first to last all-hands meeting and fought hard and smart for Magenta. This culminated with the war for the Sprint merger against far lesser minds (Hello, Letitia!) just before COVID and he, expectedly, rode off into the sunset. More power and wealth to him for keeping my family well-fed and constantly entertained. I departed right behind him after a very long career, knowing Mike Sievert was "no Jack Kennedy".

by Anonymous
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Post ID: @1rqg+1oKF5eO0

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