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10 CEOs Of Major Companies Who Took A Pay Cut Because Of The Pandemic

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10 CEOs Of Major Companies Who Took A Pay Cut Because Of The Pandemic

CEOs of major companies such as Disney, Columbia, Comcast and General Electric made fee cuts to compensate for COVID-19 losses.

The coronavirus pandemic has caused a serious economic downturn worldwide. The virus epidemic meant a serious drop in revenues in many economic sectors. Some sectors have been more affected than others, but it is safe to say that COVID-19 is an epic disaster for most businesses. In addition, millions of people joined the ranks of the unemployed, and many businesses are struggling to protect their remaining workers. Even the biggest employer cannot escape the negative economic impact of COVID-19. Indeed, the negative economic impact of the coronavirus was so bad that the CEOs of various large companies made significant wage cuts. Here are 10 CEOs of big companies that cut fees due to the pandemic:

10. Columbia Sportswear

Columbia's CEO is taking a huge pay cut this year. Image credit: www.wweek.com
Columbia CEO is making a huge wage cut this year. Image credit: www.wweek.comAs the name suggests, this company is the leading sportswear provider, including shoes, ski clothing and even camping equipment. The company’s CEO is Tim Boyle, who promises to cut his salary to $ 10,000 a year. His previous total compensation was $ 3.3 million.

9. United Airlines

Scott Kirby, President of United, is taking a pay cut until June. Image credit: skift.com
United President Scott Kirby is cutting a fee until June. Image rights: skift.comUnited is the fourth largest airline in the world. CEO Munoz, who previously received a salary of $ 1.25 million, will also give up the company president Scott Kirby by June this year. To further reduce costs, the airline will reduce its schedule, apply recruitment, freeze, and bring a voluntary leave program.

8. Delta Airlines

Delta CEO Ed Bastian is forgoing his salary for six months. Image credit: traveldailymedia.com
Delta CEO Ed Bastian has been receiving salary for six months. Image rights: traveldailymedia.comDelta is the world’s second largest airline with a total of 879 aircraft. In 2019, Delta reached $ 47 billion throughout the year, with revenue exceeding the revenue of American Airlines, the world’s largest commercial air carrier. CEO Ed Bastian. Bastian’s salary was $ 900,000 in 2018, but recently he agreed to give up all financial compensation for six months, as on the company’s board of directors.

7. Booking Holdings

Booking Holdings CEO Glenn Fogel will take no salary this year because of COVID-19. Image credit: YouTube
Booking Holdings CEO Glenn Fogel will not receive a salary due to COVID-19 this year. Image credit: YouTubeBooking is an important provider of online travel. It has popular travel websites like Booking.com and Ski. It also has Rentalcars.com where users can book rental cars online and OpenTable, where users can book restaurants online. The company’s CEO, Glenn Fogel, received a basic salary of $ 750,000 in 2018, but will not receive home salary this year.

6. Lyft

Lyft CEO Logan Green is donating his salary to help fight COVID-19. Image credit: www.theinformation.com
Lyft CEO Logan Green donates his salary to fight COVID-19. Image credit: www.theinformation.comLyft is one of the world’s leading riding companies, along with its rival Uber. The company, like Uber, uses a smartphone app to drive its users’ drivers. The current market value is $ 9.3 billion. In a tremendous philanthropic business, the company’s CEO, Logan Green, said they will donate their salaries to help their drivers together with co-founder John Zimmer. CEO Green received over $ 400,000 in salaries in 2018.

5. Marriott Hotels

Marriott Hotels CEO Arne Sorenson is not taking a salary for the remainder of 2020. Image credit: Marriott
Marriott Hotels CEO Arne Sorenson does not receive a salary for the rest of 2020. Image credit: MarriottTourism has been one of the most affected sectors of the global economy, so companies that rely heavily on the tourist dollar have hit hard on their profitability. The hotel industry is no exception. In the light of the serious losses caused by the COVID-19 outbreak, CEO of the world’s largest hotel chain Marriott said that he would not receive a salary for the 2020 balance and that the executive team would charge 50%. cut. In 2018, CEO Arne Sorenson’s annual salary was close to $ 12.8 million.

4. General Electric (GE)

Image credit: GE CEO Lawrence Culp has decided to forgo his entire salary for 2020. Image credit: necn.com
Image credit: GE CEO Lawrence Culp decided to give up all his salary for 2020. Image credit: necn.comGE is a major global brand and is involved in everything from aviation to healthcare. GE was not protected as the COVID-19 outbreak broke the global economy. In fact, he recently laid off 10% of aviation workers. According to Forbes, the company’s CEO, Lawrence Culp, decided to give up his full salary for 2020, which is $ 1 million per year.

3. Airbnb

Airbnb CEO Brian Chesky is giving up his salary for the rest of 2020 to avoid laying off workers. Image credit: www.airbnb.ca
Airbnb CEO Brian Chesky pays the rest of 2020 to prevent workers from being fired. Image rights: www.airbnb.caThe leading company for short-term leases has announced that its CEO Brian Chesky has given up his salary to the rest of 2020 to prevent workers from being fired. The company’s founding partners, Joe Gebbia and Nathan Blecharczyk, also lost their salaries for 2020.

The company’s co-founders, Joe Gebbia and Nathan Blecharczyk, have also forfeited their salaries for 2020.

2. Comcast Corporation

Comcast CEO Brian Roberts is donating his salary to charity to help fight COVID-19. Image credit: www.multichannel.com
Comcast CEO Brian Roberts donates his salary to charity to help combat COVID-19. Image credit: www.multichannel.comComcast is America’s leading cable television, entertainment and communication products and services provider. In early April, the Los Angeles Times reported that the company will donate $ 500 million to employees to survive the COVID-19 storm. In addition, the top five executives, including CEO Brian Roberts, will donate their salaries to coronavirus relief efforts.

1. Disney

Disney Executive Chairman Bob Iger is not taking a salary in 2020. Image credit: www.wave3.com
Disney CEO Bob Iger does not receive a salary in 2020. Image credit: www.wave3.comBringing us unforgettable characters like Mickey Mouse and Marry Poppins, the company will see that many of its executives have made significant wage cuts. Bob Iger, chief executive of the company, will give up his salary in the rest of 2020 and during the COVID-19 outbreak. Disney hit a big hit in the snow because the theme parks and hotels were closed, the cruise line was suspended, and the company’s film and TV productions were stopped.

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