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$1.5 million Paycut For CEO... Awww... Life's So Hard

by Aricka Mccauley posted Dec 23 2011 10:41PM
Netflix had a pretty rough year, so did the CEO, and it's about to get worse... for him at least!  According to Yahoo!, his company stock has been slashed from $3,000,000 to only $1,500,000 this year.  Lucky for him, he still will receive his base salary of $500,000.  I don't know about you, but I'm not feeling terribly sorry for him.
The Backstory:
The company was doing great until rumors of raising the prices started circulating.  THEN a bold move was made to cut the company into two pieces: Qwikster would be DVDs by mail and Netflix would continue as the movie streaming service.

Consumers (as a whole) were less than thrilledStock prices have fallen from the high of $305 (before the announcements) to around $75 per share now.  Quite a hit.

I think the guy is lucky to still have a job after nearly destroying the company.  How do you snag a job like that, anyway...

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Topics : Business_Finance
12/23/2011 10:41PM
$1.5 million Paycut For CEO... Awww... Life's So Hard
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