In a gesture of solidarity, Uber's CEO and board of directors have given up their cash salaries for 2020 as the company cut nearly 7,000 workers
On May 6, when Uber announced its first mass layoff this month, CEO Dara Khosrowshahi announced he was no longer taking his cash salary for the rest of the year.On May 18, when Uber announced its second mass layoff this month, Uber's board joined him and said they would forgo their cash retainers for the rest of the year.
"I am truly sorry. I know this will cause pain for you and your families, especially now," he wrote. "You've heard me say it before: hope is not a strategy. ... Ultimately, I realized that hoping the world would return to normal within any predictable timeframe, so we could pick up where we left off on our path to profitability, was not a viable option.
. So far, none of Uber's other top executives have taken a pay cut, a source familiar with the matter tells us.Each director except the chairman was to be paid a $50,o00 cash retainer for their service this year, paid quarterly,The chairman of the board, Ron Sugar, should one day be paid $200,000 for the job, but not until 2021. For now, he's only being paid for his committee work.
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