this post was submitted on 13 Jan 2022
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9
What should determine the pay of CEOs? (lemmy.ml)
submitted 3 years ago by [email protected] to c/[email protected]
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[–] [email protected] 7 points 3 years ago* (last edited 3 years ago) (4 children)

I'd say no more than 5x the salary of the lowest paid employee in the country in which they live.

[–] [email protected] 5 points 3 years ago

Sure no problem!

(Makes 150M/yr in stock)

[–] [email protected] 4 points 3 years ago (1 children)

Why not lowest revenue of anyone in the country ? It would create an incentive to really create jobs and care about poverty ! If we need CEOs at all...

[–] [email protected] 2 points 3 years ago

Or we could push it tan internatinnal rule too. If the question is about ethics and not concrete reachable political goals.

[–] [email protected] 3 points 3 years ago (1 children)

Switzerland voted on a 12x initiative a few years ago: https://www.businessinsider.com/switzerlands-112-initiative-why-executives-are-worried-2013-11

Unfortunately it got rejected after big companies threatened to fire their employees and leave Switzerland if this was accepted, that this would destroy the economy, and so on...

Others disagree. According to World Radio Switzerland, Novartis, Nestle, Bobst, and SBB sent thousands of employees letters asking them to vote no to the 1:12 initiative, arguing that it would make Switzerland a less desirable place to do business. Earlier this year the CEO of commodities giant GlencoreXstrata said the company would consider leaving Switzerland if the law passed. β€œI can’t believe that Switzerland would cause such great harm to its economy,” Ivan Glasenberg said in an interview with the SonntagsZeitung. β€œAnd I say that not just as the head of a company, but as a Swiss citizen.”

[–] [email protected] 2 points 3 years ago

"not just as the head of a company but as a rich dude with a €400k/Yr cocaine habit that I can't afford to support if this law passes"

All of these companies would still be able to make loads of profit in Switzerland even if this law passed, seems like a game of corporate chicken and the Swiss general public blinked first

[–] [email protected] 1 points 3 years ago

So the company just hires people through an agency instead, so they can keep the current salaries?