The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

A new kind of “number crunching”

Sep 10, 2001

Total compensation of CEOs (chief executive officers) of major U.S. companies increased this past year to an average of about 13 million dollars per year. And in the largest corporations, the biggest increase in total income was awarded to those carrying out job cuts. In fact, the CEOs of 52 major companies which announced layoffs of at least 1,000 workers earned 80% more on average than other CEOs.

If these companies are doing so badly, why are their CEOs being paid so well?!?!?!