As Employees Got Laid Off, CEOs Got Rich
from the how-nice dept
We’ve posted plenty of stories about CEOs getting ridiculous salaries and/or severance packages while they were laying off everyone else at the company. However, now a study has come out showing that we weren’t just picking up a few random cases. It’s an epidemic. CEOs at companies that are cutting jobs are officially being paid ridiculous amounts. CEOs of companies that didn’t layoff their workers, were compensated less. I have no problem with CEOs at companies that are doing well getting paid whatever they can get. However, if a company is collapsing, and workers are being laid off, than there’s no excuse for CEOs to be getting ridiculously high payouts. If someone is brought in to do a turnaround, then maybe – but the payment should be clearly linked to some measurable goals and milestones. Otherwise the companies (and their investors) are simply getting ripped off.