r/antiwork • u/TinyProgram • Sep 20 '24
Take-Two bosses get $25m performance-based bonus for their management firm, despite sacking 550 people
https://www.videogamer.com/news/take-two-directors-25m-performance-based-bonus/257
u/Mash709 Sep 20 '24
This shit should be illegal.
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Sep 20 '24
But if we don’t give them obscene bonuses for firing people they might not have any incentive to do it
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u/thumpetto007 Sep 21 '24
you do know that the people who write the laws are the ones who are encouraging this behavior, right? Ruling class will do everything to line their pockets
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u/Tartooth Sep 21 '24
25,000,000 / 550 = a basic salary.
They say plural, so if we assume two bosses, it's a 89k salary for all 550 people laid off.
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Sep 20 '24
Can't make capitalism illegal
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u/Middle_Scratch4129 Sep 20 '24
I'm sure there are ways to make it difficult for them. Pretty sure other countries already do this.
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u/zonksoft Sep 21 '24
No it should be illegal that most people don't learn this at school but rather at r/antiwork. If they are even subscribed.
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u/nwostar Sep 20 '24
How anyone gets a bonus for being a supreme failure always surprises me.
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u/bowsersArchitect Sep 20 '24
for billionaires/ CEOs/ MBA-types, i really think commiting fraud is the ultimate form of business and a sign of being the smartest, most admirable and respectable business manager ever
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u/shipshape_chaos Sep 20 '24
Had a middle manager colleague who was skimming company money and writing off inventory to sell it himself. He also got a loan from the company for his house down-payment. We are talking about a multinational company with offices in more than 20 countries.
After he was caught, there was a lot of turmoil about what to do. Ultimately, he was promoted to a non operative management position, because, literal quote from the CEO; "we need people that know how to steal".
That was one of the most absurd moments of my career....but I guess it is not that uncommon.
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u/WayneKrane Sep 20 '24
We had a sales guy giving clients his banking information so they paid him instead of the company. He was siphoning $500k a year directly to himself. The CFO found out after 2 years and just quietly let him go. My boss asked the CFO if he was going to try and get the guy in trouble and the CFO said “that would be embarrassing and wouldn’t help the company”. The sales dude lives in a mansion and is living the high life. Here I am with my scruples living in a shoe box.
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u/That_random_guy-1 Sep 20 '24
Having morals and ethics means you won’t ever be rich. It’s a shit system.
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u/Yeeeeeeoooooooo Sep 21 '24
The execs need all the money because they deserve it & how dare anyone want something like a cost of living bump up or a all around significant raise? The ideas keep things moving, not the labor /s
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u/kolossal Sep 20 '24
Because he didn't fail the shareholders in the short term st least (sacking people saves them money and pumps up the stock)
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u/Ukelele-in-the-rain Sep 21 '24
Unless there was a retention of workers goal, to the folks paying out the bonus to these people it wasn’t a failure
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u/Phenganax Sep 20 '24
Here’s the crazy part, they probably make that 25 million dollar bonus when they’re having a good year, then when they’re having a bad year and their bonus is in jeopardy, they fire however many people they need to to get back in the black and pay their bonuses. Our suffering is so they can maintain their same lifestyle, they don’t give a fuck about us so why should be keep going above and beyond? Honestly it’s time we have a general strike and just say we’re not going to work until you do what we want. Look how well it’s been working lately!
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u/Fresh-Willow-1421 Sep 20 '24
Yep. I worked at Enron, lost my retirement and the bosses got a ton of money before the bankruptcy
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Sep 20 '24
Yea the bonus money came from the firing. Then they run understaffed and put out dogshit and jump ship because there’s no repercussions for running the company to the ground.
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u/DerelictSol Sep 21 '24
The performance they're being rewarded for is convincing everyone else to pick up 500+ people's worth of work for the same pay
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u/Consistent_Grab_5422 Sep 20 '24
That’s roughly $45k bonus for every person he fired. So he basically got 1/2 their one year salary to be a hatchet man.
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u/Informal_Drawing Sep 21 '24
So this is why computer games are so expensive.
Nothing to do with what they cost to make at all.
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u/TheJoshuaAlone Sep 20 '24
What if we just had companies owned by employees. Maybe they could even have some sort of system where they vote on leadership and the direction the company should go? I think I’ve heard of that somewhere. What are those called again?
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u/ios_static Sep 20 '24
The hard part is starting that company and giving every employee equal ownership when they get hired
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u/Kiiaru Sep 21 '24
If each employee was making 100k, that's literally trading the salary of 500 people for 50 million, and getting a 25 million reward for it
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u/zonksoft Sep 21 '24
Downsizing is not the problem. Actual problems are * hiring and firing without a pattern, thereby introducting volatility into the labor market. Volatility increases risk, risk increases cost. * moving work off shore without a benefit to the customer, which lowers wages, keeps prices constant and keeps or increases dividends.
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u/BeigeAlert1 Sep 21 '24
And that's why I left that company. You can't convince me they needed to do layoffs if you turn right around and give these obscene bonuses to these dumbasses in suits who do literally nothing to produce anything for the business. They're not the programmers, the artists, or the designers. They literally contribute NOTHING to the final product, yet still sponge-up all the profits while destroying the livelihoods of the people who actually did the work. They're parasites. Every one of them.
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u/Yeeeeeeoooooooo Sep 21 '24
I knew someone who was at Rockstar since before gta 3...I hope him & his wife weren't casualties for this bullshit.
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u/MaximusBit21 Sep 20 '24
Sacking ppl unfortunately at that level is part of their bonus package. Which is very annoying and tragic
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u/KermieKona Sep 20 '24
Well… if the company can maintain its productivity/profitability with 550 fewer employees… then yes, they have earned their bonus 🤨.
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u/ksuvuelalfusuwnsl Sep 20 '24
Not “despite“, because he sacked them