Billionaire Paul Singer attacks $159K software engineer salaries at Juniper Networks
According to Forbes Magazine, Paul Singer the CEO of Elliot Management was personally paid a staggering $300 million this year. Yet earlier this week, Singer attacked the software engineers of Juniper Networks because they had earned meager annual salaries of $159 thousand.
Elliot Management CEO Paul Singer made the following statement in a leaked January 23, 2012 confidential report to his investors:
"Resentment is not morally superior to earning money."
Perhaps Singer is the ultimate hypocrite.
How so?
Well, because according to Forbes Magazine, during 2013 Paul Singer was personally paid $300 million for a year's worth of work. Yet earlier this week, Singer showed his resentment towards the software engineers at Juniper Networks because they had the ability to earn salaries of $159 thousand:
Juniper has been recognized as paying the highest average base salary to software engineers, ahead of many technology stalwarts with larger revenue bases and market caps and better performance. This ranking supports the cost structure analysis that shows that the Company has excessive R&D levels relative to peers.
We have held extensive interviews with numerous industry experts that have stated that a $200M+ reduction of operating expenses is prudent and highly achievable while still enabling the company to maintain targeted investments in growth areas.
