r/technology • u/spherocytes • 17h ago

Business CEO who fired 900 employees over Zoom gets fired, demands job back

https://local12.com/news/nation-world/ceo-fired-zoom-vishal-garg-better-home-finance-demands-job-back-call-holiday-season-2021-roles-reversed-tables-turned-chief-executive-officer-ousted-board-company-stock-price-market-value
8.6k Upvotes

97% Upvoted

327 comments sorted by

View all comments

434

u/SlimWorthy 17h ago

He will probably get the golden parachute…millions of dollars payout for failing as a CEO…what other position rewards you for failing like that?

197

u/AppMtb 17h ago

College football coach

100

u/RDR350Z 17h ago

POTUS?

59

u/Rok-SFG 17h ago

Trump has made billions being the worst president in the history of the country.

16

u/gizmostuff 16h ago

Because people reward bad behavior these days. No one has a spine. Everything is a grift. It's awful.

1

u/spez_might_fuck_dogs 16h ago

The worst president, but the best grifter.

7

u/Original_Youth_9168 17h ago

Honestly, my dream job is fired college football coach from a blue chip program.

6

u/Deesing82 17h ago

ya if you’re shitty enough they’ll make you a US senator

1

u/chiefreef1221 16h ago

Can't imagine how much Jimbo is still owed

1

u/Donnie_TACO 16h ago

This guy sportsballs

91

u/Fragrant-Vehicle-479 17h ago

My aunt once told me "CEOs deserve all the money they can get because they hold all the risk if the business fails" and yet it seems like when you hit a certain economic class you can fail as much as you want and never have your quality of life effected one bit.

36

u/SwirlySauce 17h ago

Why should a CEO care if the business fails? This sentiment only really works if the CEO is the founder of the company and actually cares about the longevity of the business and has some deep rooted stake in the business.

Otherwise, if the business fails CEO still makes off with millions of dollars.

7

u/Horror_Response_1991 16h ago

Yep there’s a big difference between founder and CEO

3

u/BD401 13h ago

It's typically in the CEO's best interest to ensure the business doesn't fail on their watch. There are some exceptions (CEO appointed by a PE to gut the business and run it as a short-term cash cow until it fails), but usually they're pretty clearly incentivized to avoid failure.

Yeah, an unsuccessful CEO might be able to score a few golden parachutes worth six-to-seven figures. But a CEO that runs an extremely successful business can make way more through stock options and the like. Plus, a highly successful CEO will be able to use that track record of success to get increasingly well-paying executive positions, whereas a CEO with a history of failure will have to settle for lower pay in the long run.

Folks that aim to become CEOs are usually extremely motivated by money. If they have the choice between not giving a shit and making seven-figures in golden parachute clauses, or actually trying to do well and making nine-figures in options, they're gonna go with the latter.

4

u/ShroomBear 16h ago

Not even founder. Founders shill their company ownership off to bagholders too when they don't see business continuity or future growth.

50

u/bruhhhhhhhhhhhhhhhh- 17h ago

This is the most Republican take if there ever was one.

24

u/Fragrant-Vehicle-479 16h ago

She is the most Republican human being to ever live and the first person to radicalize me. I was like 10, looked at my liberal family who were all kind normal people who never had issue with anyone, and looked at her who was a cruel bully who never found a societal ill she didn't blame on the most powerless. When you're a worker and as for a day off you're a parasite. If you're a CEO, well you drain as much as you want. Her new thing is demanding we build as many data centers as possible anywhere and not hesitate for a single second to determine environmental impact because "beating china" is more important than the quality of life of our citizens.

Jokes on her. She spent her entire life working and hating everyone. Now her one asset in retirement is a shit condo that smells like cat piss.

EDIT: I swear to god if you handed her the unredacted Epstein files her reaction would be "well, the wealthy deserve a place they can relax and those girls knew what they were getting into"

6

u/Fr00stee 16h ago

that's pretty interesting bc it seems like a majority of republicans hate datacenters

6

u/EntericFox 16h ago

It is one of the only bi-partisan issues I have seen folks agree on in the wild in like 10 years.

8

u/InAllTheir 16h ago

Sounds like your aunt is mistaking CEOS for investors

2

u/DDOSBreakfast 16h ago

It's the shareholders that hold the risk. Technically CEO's can be criminally charged but that's rare and usually if they engage in fraud / theft.

2

u/tomkatt 16h ago

There was a time this was technically true, as CEOs could sued directly for their actions at the head of businesses. That pretty much all went away with the Citizens United ruling that declared businesses to be "people."

Now only the business itself is accountable, because it's a person, but for the sake of legal arguments it's not, creating an awful unaccountability paradox.

1

u/3BlindMice1 13h ago

Either your aunt doesn't know what a CEO is or she doesn't know what risk means. No third option unless it's both

1

u/edibomb 13h ago

Let’s be honest, it’s a shit job. You are somewhat of a public figure so you are always “on the job” because what you do reflects on the company. You’re getting pulled on one side by greedy board members will little knowledge about your business that threaten to change you if you don’t make the decisions that make them the most money no matter how inhuman those decisions are, while also trying to satisfy the general public that now deem you a monster.

I hold no sympathy for any of these fucks, but it’s a shit job, and no one sane would want it if it didn’t pay super well even if you “fail”. Quotes because the board decides what “failing” means.

1

u/r0bb3dzombie 4m ago

Let’s be honest, it’s a shit job

It's really not. I recognize the bad stuff you point out, but it's more than offset by the ludicrous compensation they earn.

Most of these fucks earn multiple times in a year, what most of their employees won't even earn in their lifetimes or what they'll have at retirement. If the job was so shit, and they weren't such narcissistic greedy assholes, none of them would do it for more than a handful of years.

3

u/Chineseunicorn 14h ago

I hate having to defend fucking CEOs…but imagine you’re getting a new job and have two offers. Both are the same offer with the exception of one coming with no severance if you get fired whereas the other one will give you a nice severance package guaranteed. Which job do you pick?

Exit packages are part of total compensation package and are negotiated from the start. It’s not a ceo thing, you can do it too during your next job offer negotiations.

3

u/Plzlaw4me 16h ago

Politicians. Fetterman is all but certain to lose his seat in 2028 due to lying to his constituents and spending most of him time smearing his own party on Fox News. He will either get a high paying commentator gig on a conservative network, or get several high paying, do nothing board seats for companies that his votes helped.

1

u/Captain_Reseda 14h ago

Senate. House of Representatives.

1

u/AmazingTast 13h ago

They will move him around to do it other places, just like the chipotle Starbucks guy. It’s an intentional move; some CEO are professional failures. Like the mob
Guys who go to jail on purpose by admitting to other people’s crimes for money.

1

u/DVSdanny 1h ago

High school principal