In 2020, Sharecare asked employees to take a 10-30% pay cut for the back half of the year (June-December) - which was never repaid, though work continued. Now again in 2023, leadership has decided to eliminate merit increases in an effort to show the market they are capable of "growth" and effective asset management. This is a joke - if you can't pay your employees, don't ask them to work - this is effectively robbing Peter (employee) to hopefully pay Paul (shareholder). Sharecare and analysts are concerned about their cash burn rate, so one effective way of duping analysts and shareholders is to reduce cash burn by not paying employees - this is scandalous cheating at best. Do NOT come to work at Sharecare if you wish to be paid or even have a job in a year - Sharecare may not even be here then if their poor leadership continues along its current path. A culture that would steal from its children (employees) to provide for the parents (leadership and shareholders), is the worst kind of greedy capitalistic cesspool I can imagine. Meanwhile the CEO is still making >$6M annually - including bonus/incentive for letting his company fail and while failing to pay his employees.
