Hard to Justify
There might be good reasons for a CEO of a bankrupt company to get compensation of more than $9 million, but it is hard to justify. Yet, that’s what the CEO of Hertz gained after laying off thousands of employees. Taking the company into Chapter 11 will allow it to restructure and pare down debt, but that is little consolation for those thrown out of work. On the other hand, there was a story today in The New York Times business page that discussed bosses and their executives who have taken pay cuts to avoid laying off workers. At some point, they might have to furlough their workforces, but employees are thankful today that they still have jobs. Who would you rather work for?
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