$600 million pay gap: This tech CEO made 6,600x more than his median employee
An American tech giant’s annual proxy filing shed light on a staggering gap between the earnings of its top boss and the company’s median employee. An official US Securities and Exchange Commission document has lifted the lid on the jaw-dropping figure as the company remains shrouded in backlash related to layoffs.
Co-founded by billionaire Larry Ellison, Oracle has been at the centre of numerous saddening headlines this year amid a seemingly endless string of AI-driven job cuts. A separate company filing recently revealed that the workforce at the tech giant dropped by 21,000, or 13%, in the fiscal year that ended May 31. Before the massive cuts, Oracle had around 141,000 employees.
