Just spoke to 2 founders about cutting salaries. 1 needs to extend runway; cut everyone 25%. Bstorming with the other: they have $$$ but thinking of cutting 10% so employees feel a bit of the sting that their customers are feeling. They’ll make everyone whole at nxt raise. WDYT?
The second seems weirdly overcomplicated and even slightly sadistic. Surely there's something more important to be thinking about.
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Don’t cut salaries. Cut poor performers. Same effect on cash flow but will increase morale and team quality
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I agree with second one. Although it sounds sadistic, but they could be compensated later. However, sharing pain is a good test to see who really shares the same values. However, founders/executives need to get 25% cut
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If people need to feel the pain, perhaps have investors also give up equity and transfer to employees taking salary cuts?
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I agree. This seems like they are using coronavirus as an excuse to reduce their expenses just for the sake of it. It’s important wherever possible we give people stability at this time. That’s what we need.
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Totally agree. Actively trying to make employees feel additional stress / pain during this time is just awful.
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Thank you Paul.
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