High time to rethink salary scales

Should CEOs cut pay instead of jobs?

By Andrew Murfett, Editor at LinkedIn

As millions of workers face layoffs related to the coronavirus outbreak, it’s time to rethink the skyrocketing rates of executive pay, The HBR writes. Extravagant CEO compensation packages should be sacrificed to preserve as many jobs as possible. Corporate leaders must now think outside the box. The economy needs companies to retain as much of their workforce as possible while also keeping companies afloat. Ethically, CEOs should “take the largest salary cut” and make significant cuts to other senior leaders’ pay before simply shedding lower-level employee positions, the piece argues. https://www.linkedin.com/feed/news/should-ceo-cut-pay-instead-of-jobs-4529203/