Originally Posted by WarCry
When, then, in your opinion, is it okay for them to strike? What's the magic number?
Executive Salary changes at Hostess, approved in July - about 4 months before they said the company was insolvent. Now, some of these execs - AFTER this news became public - agreed to reduce their salaries, but can anyone honestly say experienced corporate execs didn't know what was happening just a few months before the "cliff"?
From another article:
If those numbers are accurate, that's 20%+ reduction in salary over 5 years. You say that "they still had the right to strike", but then blame them for striking. When is it okay to exercise that right? When, as an employee, do you say "enough is enough"?
The executive compensation package is approved by the board of directors. Your snopes link doesn't give the whole picture.
The most valuable employees at any company is the executive management team. They're also the folks with the most options. Compensation changes like this are done in order to retain them through the crash landing so the wings don't come off. Then, like big boys and girls, when their compensation changes became a PR liability for the company, they went ahead and worked for free because they were professionals.
Now contrast that to the bakers union which preferred to take the whole plane down like a bunch of children rather than taking cuts for pressing the button on the Ding Dong machine.