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] 36 points 7 months ago (1 children)

The ideal corporation has no labor and only profits. Somehow.

[–] [email protected] 2 points 7 months ago (4 children)

I mean, yeah. Isn't that what we would like here? To not have to work if we don't want to and yet tech progresses steadily, industry still operates, the world continues moving while people are free to engage in their desired pursuits?

[–] [email protected] 14 points 7 months ago (1 children)

Not If the profits are in the hand of a single owner, who relied on his workers to get to this point of automation and profit

[–] [email protected] 1 points 7 months ago (1 children)

Transition periods are never without issue.

[–] [email protected] 7 points 7 months ago

And rarely peaceful.

[–] [email protected] 14 points 7 months 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] 7 points 7 months ago (2 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] 7 points 7 months 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] 2 points 7 months ago (1 children)

Those are the only two options?

[–] [email protected] 1 points 7 months 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?

[–] [email protected] 1 points 7 months ago

Most Americans have never owned and will never own a passport, and they dont read much. 60% of them live paycheck to paycheck too. So they dont know and they dont have the time or energy to care.

[–] [email protected] 9 points 7 months ago

Yes. Those laid off workers aren't going to a world where they're free to engage in their desired pursuits. They're making hard decisions to keep their family alive. That second part is important.

[–] [email protected] 3 points 7 months ago

If everyone has all their needs adequately met and excessive 79 mn annual salaries are non-existent.