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

The Helper

Necromancy Power over 9000
Staff member
Reaction score
1,688
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.


-------------------------
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...
 
General chit-chat
Help Users
  • No one is chatting at the moment.

      The Helper Discord

      Staff online

      Members online

      Affiliates

      Hive Workshop NUON Dome World Editor Tutorials

      Network Sponsors

      Apex Steel Pipe - Buys and sells Steel Pipe.
      Top