I’m not quite sure who in particular you’re referring to in your last statement and surely I’ve misinterpreted what you mean with it, but to be clear, I personally don’t think it would be fair towards employees to slash their income and expect them to work without making ends meet so that the rest of us to enjoy a recreational service.
what are you even talking about? I never said employees’ income should be slashed or expect them to work without making ends meet. I just said, that in such big corps, even though that in the papers they may saw declined numbers or even be below zero, there are still a few people (see executive board) who still make tremendous amounts of money. A CEO will always walk out with millions in their pockets because, well, that was their salary and the company’s debts are not their own debts, so, well, capitalism. Ok, the company failed, there is no money to pay off debts and employees, but the money they made from the company is now theirs and cannot be asked back to pay off company debt. Because that’s the legal system, the company was different entity. There is nobody liable for it in terms of personal liability.
It is always the lower lever employees who take the hit.
poopkins@lemmy.world 1 year ago
I was afraid I had misinterpreted that part of your comment, so apologies. I was thrown off a bit by “humans who make profits,” and in particular who you are referring to.
In my opinion, executive compensation is completely out of whack and perhaps the single most outright cause of wealth inequality. It would be unfair, however, not to acknowledge that when a public company is doing poorly, it does affect executive pay through the valuation of their stock, payout of their dividend or other equity based compensation. In principle, I think tying executive compensation with company performance isn’t a bad idea, but in reality overall comp is, well, just completely disproportionate.
That being said, even if the compensation was a fraction is what it is today and that cost reduction immediately went towards a lower monthly service fee, it would be nearly negligible. Operational costs of services like these are astronomical, where the majority share remains in content assets; in the case of Netflix this constitutes production, licensing and delivery.