Corporate 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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