They've aligned bonus compensation with performance. Pretty radical idea, lol.
Jack Donaghy is going to be upset
I'm sincerely disappointed that this story has nothing to do with electric axes.
Yeah but theyll all get multi million dollar severance packages when they leave the company.
Sending thoughts and prayers to them and their families through this trying time
This isn’t really news in anyway aside from the fact their performance sucked. Pretty much every AIP (bonus) (and performance LTI for that matter) have threshold levels of performance and if you don’t hit them you get 0. Now they are typically set so it’s hard to get the 0 (threshold may be 50% of target or something). It’s not like GE made some massive governance change, this is the intended result of bad company performance, which on another note has been abysmal. For years GE was the blue chip company...
GE is like watching a dumpster fire. They are paying the price for decisions they made decades ago. I hope they get the ship righted, but I think it's going to take a lot of selling of assets and divisions.
Why are people upset about bonus structures and bonus payouts of companies? It’s not the government, and they aren’t talking money from our pockets to fund the bonuses of these people? And why is everyone assuming these folks don’t work to earn the payout? Honest question, not sarcasm. I personally know some people on company boards and C suite people and they work day and night and well into weekends and holidays, being on call for every urgent decision that needs to be made or problems that need solving. And not to mention the business acumen you need to lead multi million and billion dollar companies. So why the hate?
Amazing to me that these people are getting $10m bonuses for nothing while others can barely pay bills.
I can’t help but notice how many ‘former’ senior managers are listed
Sounds like the CEO of the company I work for.... Makes $900k a year and gets $1.5M in bonuses. Must be hard to not have to actually know anything in your field to pull in that kind of money.