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Hidden Corporate Scandal: CEOs Who Laid Off the Most Workers Rake in the Most Treasure

CEOs are throwing workers onto the unemployment rolls and dodging taxes to boost short-term profits and fatten their own paychecks.

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After the board gave Hurd the blade, he walked away with a severance payout of cash and stock estimated at more than $28 million. That should tide him over until his next executive post, which may not be long. According to the Wall Street Journal , Hurd claims he received a recruiter call the day after he left HP.

Meanwhile, who knows how many of the tens of thousands of HP employees who have lost their jobs are stuck collecting unemployment checks. That’s the real scandal at HP.  

Sarah Anderson is a co-author of the new Institute for Policy Studies report, Executive Excess 2010: CEO Pay and the Great Recession .

 
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