Are Laid Off Employees At Beyond Meat The Scapegoat For Bad Management?
My latest article at Forbes asks why the CEO is making 91 times the staff
Layoffs are all the rage these days, but let's be honest, some companies should really be looking to its top leaders to take responsibility instead of making rank and file employees suffer for their mismanagement.
My latest article for Forbes is about the recent layoffs at Beyond Meat, the plant-based meat company. The article highlights much of the mismanagement at the company, as well as the exorbitant salaries and bonuses for top executives.
The CEO makes 91 times as much as the median employee. Remember the nose-biting COO from Tyson? (He's gone now.) Here is what he was making:
- Base salary of $475,000
- Eligible for 100% of base salary as bonus
- Sign-on bonus of $450,000 (subject to clawback, meaning returning the money)
- Additional sign-on bonus of $275,000 if he had made it to one year
- Retirement benefits of $1M and stock valued at $1.75M, if he had stayed on.
Maybe Beyond should start cutting at the top instead of the bottom.
You can read the full article at Forbes.
If cannot access it, I will post it to my blog next week.