[jgrowl]

> The company said it would cost between $20 million and $30 million to fix these issues and decided to cut about 6% of its staff.

> Spence, in October, had acknowledged mistakes surrounding the app's release and said that he and seven other company leaders would forgo their bonuses.

People out of a job because of you and you're gonna forgo your bonuses.

> Spence, whose total compensation was $5.19 million in fiscal 2023, took a roughly $72,000 cash bonus.

[x0x0]

> People out of a job because of you and you're gonna forgo your bonuses.

Well, the board seems to have fired him too?

[soperj]

are you really fired when you get nearly $2 million in severance?

[elp]

For a CEO of a public company this is about as close to a perp walk with your stuff in a cardboard box as it gets.

[bigstrat2003]

You're right... but it's also not at all close to that.

[beezlebroxxxxxx]

Don't worry, they'll fail upwards like many other executives who leave dumpster fires behind them.

Remember, though, conveniently, according to other executives, there's "only a limited number of people with the skills to be CEOs! So we have to pay them so much!"

[Wolfenstein98k]

CEOs who resign in disgrace do not actually do that well. Even on PR terms alone, it's a bad look to hire one as your CEO, even if they can make a good case that they "fell on their sword" rather than actually caused the catastrophe.

[potamic]

Are there examples of this?

[anon7000]

I imagine it hurts his reputation going forward, but $2M is enough to immediately retire on and live a comfortable (but not exorbitant) life

[timewizard]

Yea. Poor guy. Having to stuff $2 million dollars into a measly cardboard box. I'll be he feels very chagrined and therefore I can relate to him now. :|

[saaaaaam]

$2 million plus his unvested shares. Plus the millions he’s made over his time as CEO. I reckon he will be just fine.