A report by the CFA Institute, released in March 2023, showed that the pay gap widens as women move higher up in the career ladder. The median remuneration ratio of women to men as per the report was only 0.52 for key managerial personnel and 0.64 at the director level. This indicates that a woman at a key management position makes only half the money made by her male counterpart.
The IT major in a filing with BSE also said that the former CEO, Thierry Delaporte will be paid $4.33 million in the form of cash compensation and applicable social security contributions, subject to appropriate deductions. Meanwhile another exchange filing also shows that Delaporte sold all his stocks (about 4,72,292 Wipro shares) worth Rs 21.4 crore this month.
Google rolls back $15/hr policy, impacting worker rights and sparking 'joint employers' debate. NLRB's Cognizant ruling intensifies focus on temporary workers, unionization, financial impact, and worker classification in gig economy.
Some of the impacted dealmakers were notified on Friday about the cuts, said the sources, who have knowledge of the pay reductions but declined to be identified as they are not authorised to speak to the media.
These pay numbers were revealed in a recent company filing ahead of Meta's annual shareholder meeting next month. The tech giant employs around 67,000 people globally. The median figure means half of Meta's made more than $379,000 last year, while the other half made less.
So far, the company has entertained fee reimbursement applications for 30 employees and labourers.
With over 1,000 employees across nine global locations, this strategic move reinforces the company’s commitment to retain its top talent, improve job satisfaction, and foster a collaborative and innovative work environment, according to a statement.
Outgoing Wipro CEO Thierry Delaporte is set to get a separation payment of Rs 92.1 crore (or about $11 million) after his ahead-of-schedule exit from India's fourth-biggest outsourcing company, joining a swelling list of top executives in the country's most globalized industry to have inked iron-clad job contracts that guarantee hefty severance packages.
In 2023, Sarandos had a base salary of $3 million, $28.3 million worth of stock option awards, a $16.5 million cash bonus and $1.98 million in other compensation (including $620,013 for his personal use of the company aircraft and $1.3 million in residential security costs), adds 'Variety.'
The non-binding vote at the annual general meeting in Amsterdam was closely watched after several activist investors called for a vote against the salary. His wage was rejected in 2021.
The disparity between CEO pay and employee compensation is striking, with the CEO pay ratio compared to employees based in India standing at 1647:1, and the worldwide median employee’s annual total compensation ratio being 556:1. The median annual employee compensation in India is $13,735, while the worldwide median annual compensation is $40,660. This widening wage gap, along with the recent announcement of Cognizant deferring increments by four months, has not been well-received by the firm’s employees.
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