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Comment by jgrowl | Hacker News Reader

> The company said it would cost between $20 million and $30 million to fix these issues and decided to cut about 6% of its staff.

> Spence, in October, had acknowledged mistakes surrounding the app's release and said that he and seven other company leaders would forgo their bonuses.

People out of a job because of you and you're gonna forgo your bonuses.

> Spence, whose total compensation was $5.19 million in fiscal 2023, took a roughly $72,000 cash bonus.

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> People out of a job because of you and you're gonna forgo your bonuses.

Well, the board seems to have fired him too?

are you really fired when you get nearly $2 million in severance?

For a CEO of a public company this is about as close to a perp walk with your stuff in a cardboard box as it gets.

Don't worry, they'll fail upwards like many other executives who leave dumpster fires behind them.

Remember, though, conveniently, according to other executives, there's "only a limited number of people with the skills to be CEOs! So we have to pay them so much!"

CEOs who resign in disgrace do not actually do that well. Even on PR terms alone, it's a bad look to hire one as your CEO, even if they can make a good case that they "fell on their sword" rather than actually caused the catastrophe.

Are there examples of this?

You're right... but it's also not at all close to that.

Yea. Poor guy. Having to stuff $2 million dollars into a measly cardboard box. I'll be he feels very chagrined and therefore I can relate to him now. :|

I imagine it hurts his reputation going forward, but $2M is enough to immediately retire on and live a comfortable (but not exorbitant) life

$2 million plus his unvested shares. Plus the millions he’s made over his time as CEO. I reckon he will be just fine.

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