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- John CavanaghEconomist and Co-Director of the Institute for Policy Studies, a progressive think tank in Washington DC
U.S. firms that announced layoffs of 3000 or more in 1995. The study found that CEOs of these corporations receive higher compensation than executives at companies that don’t slash their workforce, that Wall Street rewards downsizing, and that the CEO make big bucks by cutting their labor force because the value of their stock options skyrocket.
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