Tim Cook Has Set Higher Standards By Taking Pay Cut Instead Of Firing His Employees

On one hand, where all the tech giants are laying off their employees to beat the recession, Apple CEO Tim Cook refused to lay off his employees and took a $50 Million pay cut instead.

On one hand, where all the tech giants are laying off their employees to beat the recession, Apple CEO Tim Cook refused to lay off his employees and took a $50 Million pay cut instead.

Recently tech giants like Google, Netflix, Facebook, etc laid off a huge number of their employees to beat the recession. These companies were forced to do these layoffs due to the prevailing economic conditions and over-hiring done during COVID. But even in these extreme conditions, Apple’s CEO Tim Cook emerged as a great leader as he decided to take a pay cut of $50 million instead of firing his employees.

Tim’s decision is winning the hearts of people and he is emerging as a worthy and responsible leader. Tim is receiving this pay cut on his own recommendation. To set Tim’s new pay, the compensation committee on Apple’s board “balanced shareholder feedback, Apple’s exceptional performance, and a recommendation from Mr. Cook to adjust his compensation in light of the feedback received.”

Right now Apple is facing the same economic challenges affecting other big tech firms, which have resulted in massive layoffs at companies like Meta and Amazon. But the pay cut recommendation by Tim has prevented layoffs in Apple so far.

What are your views on this decision of Tim Cook do let us know in the comments.

 

 

 

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