- Salary: $1,400,000
- Bonus: $785,400
- Non-equity incentive pay: $1,538,320
- Other compensation: $596,391
- Value realized on vesting shares: $5,538,869
- CEO pay ratio: 753 to 1
- Median employee pay: $27,090
Poor him.
I would love to hear his justification of how he works 753 times harder than an average employee.
20 years ago I worked at Target. Holy shit, never again. The managers do not give a shit, at ALL.
The employees bust their asses stocking shelves, helping customers, running register (this at a time before self checkout), and doing literally everything to keep the store running.
As far as I could tell, the managers do about 1-2 hours of paperwork in their office, and spend the rest of the time going around yelling at every single employee for no reason.
One time we had a guy who wanted to return a VCR. Keep in mind 20 years ago is 2005. This VCR is at LEAST 10 years old, and very used. We don’t even sell this VCR.
He has no reciept. No box. No remote. There was a porn vhs inside the vcr. He insisted the VCR doesn’t work, is brand new, and wants a $300 refund.
I refused him, because, c’mon.
He asks for the manager. Manager comes over, I explain the situation in private. Then she goes and talks to him. He says I was being rude. Manager is yelling at me that I should have just processed the refund (despite the fact it goes against literally every policy).
So I just asked her “Ok, how do I do that?”
And she looked at me as if I farted. She says “What do you mean? Just scan the UPC, and ring it up!”. So I asked “Ok, where is the UPC?” And NOW she had to admit we can’t return it. Mind you, I already told her in private beforehand that he has no box and we don’t even sell this VCR.
But now that we physically can’t even start the process, she had to admit I was right. Which she then yelled at ME for being rude to HER.
Walked out that day. Fuck target, fuck working at target. Fuck those little letters on the register that say you’re working too slow. Fuck the idea that every customer is always right. Fuck the idea that employees are worthless wage slaves. Fuck entitled managers. Fuck this CEO. I don’t even care if he wasn’t CEO 20 years ago. Fuck him anyways. Fuck billionaires.
Yup, I worked there in the late 90s and this was my experience. Also, at the end of the night the managers would lock the doors and make us clock out and clean the store. I didn’t know about wage theft back then, but I did know what they were doing was wrong.
Might be too late for you now, but for everyone else reading, involve your state employment commission! I got all my back pay from an abusive restaurant owner (like a million years ago, apologies if these no longer exist or are just too dysfunctional to do anything anymore).
I was in high school, working like 50-60 hour weeks, and this lady thought it was fine to pay regular rates past 40. I sure didn’t! State employment commission didn’t either. Stole some water bottles full of Grey Goose on my way out, lol, then collected a cool few very well-earned buckaroos some months later.
Restaurant folded in a year. Turns out it was basically a gift from her successful husband anyway, lady was outrageous. As in, fuckin employees in the walk-in and stealing money from high school kids outrageous lol
Aaaaand just realized I’m old. I’m apparently the kinda guy who just tells stories about strangers to no one, from 20+ years ago, for no reason.
I’m apparently the kinda guy who just tells stories about strangers to no one, from 20+ years ago, for no reason.
Those are the best kind of stories and I’m here for them.
Welp…
Welcome to life as employee at any Big Box store.
With slight diff’s, they’re all cut from the same mold. (I’m ex-Home Depot emp…)
A lot of it’s competition with other companies. If you can imagine good CEOs like football players. Do they do much besides play around with inflated leather? Not really. So why do they earn hundreds more times than a paramedic that saves lives everyday? A competitor will pay up if Target won’t, pushing Target out of the league.
That’s the justification. It’s sick, but that’s capitalism. Enjoy your sport!
That’s still $9.87 million too much
Facts. CEO of target should be like 70-80k per year. No extras. No bonuses, no free stocks. Just the salary.
Unironically.
I’ll give you 120k per year. Fair enough.
CEO pay should be a % of total employee compensation. Want to earn more? Gotta raise pay or benefits for all other employees. Need to lay people off? Do what you need to do but you made the pie smaller so your compensation goes down.
This is actually supported in the scientific literature as we know that once the pay disparity between leaders and employees goes over a certain threshold it starts to decrease basically everything for employees from wellbeing to basic productivity (I know the citation but not home and lazy to send it). Problem is most organizations don’t actually really want to make good effective workplaces that are good for everyone as they only want to benefit the people on top in the short term.
This would incentivize paid CEOs that lack equity to hire more people and fire fewer people, even if it wrecked the business. Sometimes businesses need to decrease the employee headcount if revenue is declining or they won’t be able to pay anyone. I understand your desire to be more inclusive and have less pay disparity, but the best way to do that is with taxing the ultra wealthy and giving a certain amount back to the lower classes rather than actually try to alter market forces that would result in unusual inefficiencies and problems. A big reason why we have capitalism is to make sure things like food and other essentials are supplied In sufficient quantities. I am not in favor of unregulated unchecked capitalism, but the idea that we can pay CEOs more as wages go up for everyone in the company is an idea that only will work well with smooth sailing. Any rough waters and that idea won’t make sense. (This post is not condoning extreme poverty which is due to the poor policies of many elected leaders.)
Must have been a difficult decision for him to downsize his yacht to the slightly smaller one.
I know you people in the middle and lower classes don’t understand, but this poor man now has to pull up to yacht club in a smaller boat, and he will only be able to afford 3 additional vacation homes this year. For you plots, that’s like… showing up to a team meeting without a Starbucks cup and having a “coffee shop” cup, or going to work and pulling out a bagged lunch instead of going out to eat. Think of how this will impact his mental health and his social status. Smh.
Oh no.
I think the worst part of these high salaries is that at a certain amount of money you start paying off even big stuff pretty quickly. Working class people are so used to the idea that they will always have a rent payment or will, as far as it matters, always have a mortgage payment and/or car payment floating around. The ultra wealthy pay all that shit off right away and then continue having these sky-high yearly incomes.
His pay got cut in half, sure, but his life didn’t even need to change at all. They cut his salary in half and he didn’t even feel it.
Ahhh…so sad. Only 9.9 million? How will he ever get by?
Aw, only $9.9M? 🙄 The boycott continues.
Get fucked
Cry me a fuckin river
I’d get a tiny violin to play, but I don’t shop at Target.
oh no! anyway
Fucked around and now found out. Target lost all good will.
We got 65% to go
Jesus. Is he going to be okay?
Thoughts and prayers
