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by nerdbaggy 2242 days ago
“And, beginning in May, the ride-hailing company will reportedly put forward a 30 percent reduction in pay for executive leadership, 20 percent for vice presidents and 10 percent for all other staffers who are exempt per a Securities and Exchange Commission (SEC) filing.”

This stuff grinds my gears. I think they could take a bigger pay cut. I see this everywhere not just with Grab. The CEO Anthony Tan is in the top 50 riches people in Malaysia.
1 comments
Jommi 2242 days ago
You do realize that % based cuts are already progressive right?
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willcipriano 2242 days ago
The nature of executive compensation is often different than rank and file employees. A common trick is to say "The leadership team took a 30% paycut, so the 10% paycut you are taking isn't so bad" however executive pay is often split between equity, bonus and base compensation with equity and bonus making up more than 50% of the total comp. Often when they say 30% they are talking about 30% of base.
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mikekchar 2242 days ago
Going to get myself in trouble again :-) Just to make sure I don't come across the wrong way, I applaud this kind of measure. Voluntarily taking a 30% pay cut is a difficult thing to do. Also, I'm going to say this without knowing anything about Grab (no idea how much the executive gets paid or what their life situations are like). However, it is very possible that a 10% cut at the low end of the pay scale can mean that you literally can't make ends meet, while a 30% cut at the top end can mean almost nothing to your day to day needs.

I mean it would be crazy to say, "Well some of our staff won't be able to make their mortgage payments or pay their rent, so I'll reduce my salary to the point where I also can't make my mortgage payments". However, it's probably not wrong to say that for many executives, such a cut is mainly a show of solidarity as opposed to something that will put them in the same situation as other employees.

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nerdbaggy 2242 days ago
Hmmm yeah I can’t find a solid source for any for how much anybody is getting their pay cut. I saw some articles from around April 1 that said the executives were getting up 20% pay cut. Some of the current articles are saying 30% for the execute and some are saying up to 20. I’m not sure
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