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CEOs Who Cut the Most Earn the Most
ByCorporate profits are up in 2010. Mass layoffs were the rage in early 2009. This are two sides to the same coin. So this shouldn't surprise us:
The 50 top CEO layoff leaders received $12 million on average in 2009, compared to the S&P 500 average of $8.5 million. Each of the corporations surveyed laid off at least 3,000 workers between November 2008 and April 2010. Seventy-two percent of the firms announced mass layoffs at a time of positive earnings reports.
Read the full story at IPS.
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