Tesco faces criticism as chief’s pay more than doubles to nearly £10m | Tesco
https://www.theguardian.com/business/article/2024/jun/14/tesco-chiefs-pay-deal-shareaction-ken-murphy
Posted by Tyler119
Tesco faces criticism as chief’s pay more than doubles to nearly £10m | Tesco
https://www.theguardian.com/business/article/2024/jun/14/tesco-chiefs-pay-deal-shareaction-ken-murphy
Posted by Tyler119
10 Comments
Remember [Time Trumpet when Tesco went to war with Denmark](https://youtu.be/lfSi0D7KESk?si=sEi5RE3otSpwZ_gl)?
He is managing a company earning £2.3B in profit a year. His £10M isn’t a fraction of that. He isn’t even taking 0.5% of the company profit.
And his large income doesn’t really prevent Tesco paying staff a fair wage. There is the other 99.5% of their profit that could be used for that. This isn’t the big issue it sounds to be.
The other thread was deleted.
I made the point that plenty of people will defend this and say it’s reasonable.
Yes, his job is important. Does he really work 50,000 times harder compared to somebody who has to get up at 5 in the morning and clean the toilets?
Meh. Private companies can pay their employees whatever they like IMO. If you don’t like it don’t buy their shares. Murphy’s fixed pay is about £1.7M, not crazy for the CEO of a multi billion pound business. The rest are performance bonuses defined by the board, if this wasn’t what they wanted then the issue is with the incentives the board has devised.
Speak with your feet… Honestly, we’re all like fucking drones at this point.. “waaah tescos profits are through the roof, they must be ripping us off…”, yes they absolutely are ripping us off… But you don’t get to complain, when YOU are the one financing it.. Ffs.. These supermarkets and retailers are LITERALLY taking the piss (and that’s massively understating it), especially off the back of covid, where people were already on their arses… STOP FUCKING WHINING, GROW A PAIR AND START BOYCOTTING.. SPEAK WITH YOUR FEET.. Profiteering off people’s misery and destitution is beyond fucked up. Downvote me, couldn’t give a toss. We are cucks to our own system, we, as a people, have allowed this to happen. Change my mind.
I’ve written to Tesco many times offering to do the CEOs job for half the money. They don’t even reply. They must have money to burn.
At the end of the day, pay your ground force better, the ceo just waves the hand at decisions they pay other upper management people to make, they no way earn that 10 million a year.
The people going to work every day and slogging it out at 6am and getting shouted at are the entire reason the company functions, if they all fucked off, tesco dies.
As shitty as it is, it’s a private company. No-one should be paid ten million quid a year. But it’s their business.
Employees surely dont have the clubcard for wages….
Amazing seeing the comments trying to justify the CEO wages when they pay their shop workers the absolute bare minimum.
They say the CEO creates growth. No, the CEO instructs the low paid staff to create the growth for him. It’s the ones on minimum wage working the warehouses, shipping stock, stacking shelves, ensuring the shops are up to standard that create the growth. And even if he has a few ideas, the fact that workers are not being rewarded for the company’s growth and are still on minimum wage near enough shows how little they are valued.
The other question is how much of tesco increased profits are down to fleecing their customers. Basically all big supermarkets have been accused of price gouging since covid as there hasn’t been proper justification for the extent of their price rises. Is that mow what justifies your already massive wage doubling while the actual workforce are told to go fuck themselves?