General Redfin approves millions in executive payouts same day of mass layoffs

The Helper

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Redfin announced 470 layoffs Tuesday – and rubber-stamped lucrative compensation packages for top executives.

At the company’s annual shareholder meeting, Redfin stockholders by a wide margin approved the compensation packages for Glenn Kelman, the company CEO; Chris Nielsen, chief financial officer; Adam Weiner, president of real estate operations; and Bridget Frey, chief technology officer at Redfin.

The payment reflects 2021 performance, with the specific packages proposed by Redfin’s board of directors more than a year earlier. Along with his perch as CEO, Kelman also sits on Redfin’s board.

Kelman receives $300,000 in annual cash compensation, which, a Redfin spokeswoman pointed out, is a relatively modest sum for a CEO.


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Very bad decision for PR here. Probably will not effect them much because this is not typically big news but just goes to show that glimpse into corporate workings...
 
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    Awesome Ghan thanks! I was purposely not moving the first 15 news articles in Headline news to the different subforums but I guess I don't have to do that now?
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    If you move a thread please leave a permanent redirect. You can delete any redirects after 6 months. The redirects are left to help Search Engines find the moved content.
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    What if you move the permanent redirect, not the thread?
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    I think that works but I have not messed with it. You can delete redirects though if you have to that will not delete the original thread
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    if a redirect ends up in the same forum as the post it goes to though I think the redirect drops or fails or something but they are not bugged out and when you are working on an indirect the original post is safe.
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