ExxonMobil CEO Darren Woods received $36 million in total compensation last year. The figure climbed more than twice as much as it did from 2020 to 2021, showing a 52% increase, as follows from ExxonMobil’s submitted to the US Securities and Exchange Commission. Mr. Woods received a $6.4 million cash incentive and $13.5 million worth of company stock. The majority of oil and gas businesses were...

Dan Hart, the CEO of the satellite launch company Virgin Orbit, informed staff members at a general meeting on March 30 that the company would stop operations "for the foreseeable future" due to a lack of financing. 75% of Virgin Orbit is owned by British billionaire Richard Branson. Virgin Orbit, a company that launches satellites, has been unable to secure financing for its operations; as a...

According to a statement from the company’s CEO Andy Jassy posted on Amazon's website, the online retailer plans to lay off 9,000 workers. The layoffs will primarily affect the cloud computing platform AWS, the People, Experience and Technology (PXT) division, which handles human resources, the advertising department, and the Twitch division. "We are writing to declare that we aim to eliminate...

Moody's analysts found that eliminating the gender pay disparity could add $7 trillion to global economic growth. According to analysts at the global credit rating agency Moody's, eliminating the wage difference between men and women could increase global economic activity by about 7%, or $7 trillion. The estimate is based on information on the wage rise that women in Organization for Economic...

Elon Musk, the founder of Tesla and SpaceX, once again topped the list of the world's wealthiest individuals, according to Bloomberg’s $ 187.1 billion estimate of his wealth. He outperformed Louis Vuitton Moet Hennessy company’s President Bernard Arnault ($185.3 billion). The agency attributed this to a roughly 70% increase in Tesla's stock price since the year's beginning. Due to lower prices,...

As part of a recent strategy shift, Wells Fargo & Co. laid off hundreds of mortgage bankers this week. CNBC reported on this on Wednesday, citing informed sources. Some of the most successful professionals, who had more than $100 million in loans in their accounts the previous year, and some employees who went to an internal sales conference for high-performing professionals were allegedly...

Due to a steep decline in the value of the company's stock, salaries at online retailer Amazon will fall 15 to 50% short of expectations in 2023, according to sources with knowledge of the matter. Amazon pays a sizable amount of its employees' yearly salary in restricted shares, and a sustained decrease in the value of the company's stocks will result in 2023 salaries 15 to 50% below those...

Elon Musk declared on Wednesday at the World Government Summit in Dubai that he hopes to choose a new CEO of Twitter by the end of the year. "I believe I must first stabilize the company and then just make sure it has a solid financial foundation. I think a good moment to select a new CEO for the business would be close to the end of this year," the entrepreneur stated. Musk announced his...

The Taiwan-based shipping firm Evergreen Marine gave its staff an annual incentive equivalent to 50 monthly salaries. Evergreen tripled its 2020 level and increased its gross sales to $20.7 billion annually, up nearly 30% from 2021. According to the company, the annual bonus has occasionally exceeded 52 monthly salaries. For instance, some staff reportedly earned a $65,000 bonus on December 30...