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by lancesells 923 days ago
Executive salaries: https://www1.salary.com/HASBRO-INC-Executive-Salaries.html
3 comments
onlyrealcuzzo 923 days ago
~$37M for the execs listed, vs 1100 workers laid off - probably mostly making under $100k.

This is one of the rare cases in the layoff discussions where the exec salaries do seem quite excessive.

Hasbro had been averaging profits of around ~$250M for the last several years.

Paying ~5 people >10% of your profits is INSANE. Continuing to reward them handsomely as your profits drop from ~$250M to -$500M is REALLY INSANE.

Fire them. The new hires should be making 1/5th that or less.

And, yes, you can get someone competent to run Hasbro for $1M.

It's not a fusion reactor...

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Denvercoder9 923 days ago
Not saying the pay isn't outrageous, but most of the executive pay is in equity, which probably cost Hasbro next to nothing. They can't pay those laid off workers, probably making little more than minimum wage, with that.
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onlyrealcuzzo 923 days ago
> but most of the executive pay is in equity, which probably cost Hasbro next to nothing

It's costing the investors who they work for that much money.

It might not be impacting the balance sheet.

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mminer237 923 days ago
Paying in equity still dilutes your stock price therefore increases your loan costs. Plus, you could just sell more stock otherwise.
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pcthrowaway 923 days ago
> Hasbro had been averaging profits of around ~$250M for the last several years.

> Paying ~5 people >10% of your profits is INSANE.

Wouldn't profits be determined after wages are paid?

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onlyrealcuzzo 922 days ago
No, they're paid in diluted stock, which does not impact the balance sheet.
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neilv 923 days ago
That looks ridiculous. You could've paid someone 1/10th that to lay off people, and then had to lay off a lot fewer people.
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sixothree 923 days ago
That's probably 50% or more of the yearly cost of those workers.
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onlyrealcuzzo 923 days ago
No - it's $37M - it should be less than 20% for sure. They HAD 5500 employees. After the layoffs, it could be close to ~30% - which is INSANE - but not as absolutely crazy as 50% would be.
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sixothree 923 days ago
I was calculating laid off workers at $70k.
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