Back in April of 2020, John Legere officially left T-Mobile, giving the position to his former right-hand man, Mike Sievert. The carrier's current CEO has been running the company similar to how John Legere previously ran it. When the somewhat "unorthodox" executive previously joined T-Mobile back in 2012, it became the start of quite an amazing turnaround which made the company the most innovative wireless provider in the US.
How Much Does T-Mobile's CEO Make?
Despite only working for three months in 2020, Legere was reportedly paid a massive $137 million from T-Mobile. The carrier was reportedly forced to file this particular information with the SEC just this week according to ars technica. The filing revealed that T-Mobile paid Legere $27.8 million back in 2019 and a whopping $66.5 million back in 2018 mostly coming in the form of stock awards.
Legere's pay last year consisted of a whopping $136.55 million severance payment, another $600,000 paycheck, and even $50,000 for reimbursing legal fees. John was not the only CEO to take a huge and generous paycheck from T-Mobile last year.
T-Mobile CEO Paycheck
New T-Mobile CEO Sievert was also given stock awards, bonuses, salary, and incentives all totaling a whopping $54.9 million back in 2020. He was reportedly paid $35.6 million and $16.4 million during 2018 and 2019 respectively.
Legere previously returned his key to the T-Mobile executive bathroom back on April 1 of 2020. This was the day that the whole merger of T-Mobile and Sprint which he announced two years ago had finally been closed. This deal was reportedly about 5G as the carrier went directly after Sprint's own hoard of different mid-band spectrum.
T-Mobile and Sprint Acquisition
Combined with its own low-band 600MHz airwaves as well as some mmWave spectrum, a new mid-brand spectrum T-Mobile that was acquired from Sprint became the final piece of the whole triple-layer cake strategy that had a lot of analysts' expecting T-Mobile to be able to deliver on fast 5G download data speeds once all 5G networks are built-out in the United States.
Originally, Legere stated that the merger could lead to 11,000 more jobs than what both T-Mobile and Sprint would have had if it came to a standalone basis by the year 2024. The company, however, had to cut 5,000 jobs since the merger had closed, leading the whole CWA or Communication Workers of America to give their statements.
According to CWA, that is particularly the reason why they are pushing for enforceable commitments coming from T-Mobile when it comes to jobs during the whole merger process. Regulators, however, need to look closer at what is happening at T-Mobile and also get serious when it comes to protecting jobs as part of the company's oversight when looking at corporate mergers.
Related Article: T-Mobile to Partner Up with Google TV, to Shut Down its Live Features on April 29
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Written by Urian Buenconsejo
