That is a silly system!
A friend of mine who visited tonight is giving up two of his titles and retaining one, because he just hasn't the time to do all of the work involved. I am not sure if it comes with a pay cut, but one of the titles he is giving up is "head of finance" and he works for a large pharma company. Crazy he has three titles in that role.
And now I am very content with it especially in the current environment in Tech where you can get reduction of force letter at any moment.
The Us is pretty bad for employee protections, isn't it? Europe is generally pretty good in comparison I believe.