Although experts have warned against knee-jerk layoffs as an overreaction to economic fears, terminations have become a recurring theme in today’s business environment. But there is a leitmotif developing, too. CEOs are taking pay cuts.
Apple CEO Tim Cook, who volunteered to take a reduction, will receive 40% less in 2023 than last year. (Though that will still leave him with a $49 million income.) Other chieftains who have chosen to shave their incomes in response to shareholder and economic pressures include Google’s Sundar Pichai, JPMorgan’s Jamie Dimon, and AMC Entertainment’s Adam Aron.
