USA (bbabo.net), - The economic crisis and not the most favorable economic realities are forcing employers to take quite drastic measures. Businesses are shutting down and staffing levels are being cut. Now it's the turn of top managers who have decided to cut salaries, according to Insider.
Apple CEO Tim Cook has given up 40% of his earnings in 2023 and will live on $49 million a year. Pat Gelsinger, head of Intel, cut revenue by 25%, and some of his top-level subordinates by 10-15%.
Goldman Sachs CEO David Solomon began this process back in 2022, cutting revenue by 30% to $25 million a year.
Morgan Stanley CEO James Gorman has been more modest and has cut his pay by only 10% in 2022 to a total of $31.5 million. In turn, the well-known Google top Sundar Pichai avoided answering the question about the reduction in income, only specifying that such work is already underway.
bbabo.net previously reported on how Russian businessmen were able to improve things at the beginning of 2023 after the crisis, difficult and sanctioned 2022, which provoked an almost universal decrease in income.