CEO pay rises the more pink slips fly, study finds

Bosses bank millions while minions hit the bricks

While not surprising by any means, it's still worth noting new research that quantifies what we would all suspect to be true: Bosses at big companies bank bigger bucks the more vigorously they wield the payroll ax.

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New research from the Institute for Policy Studies shows a direct correlation between compensation (in particular, CEO compensation) and layoffs. The CEOs who oversaw the largest layoffs at their companies during the recession earned more money in 2009-42 percent more-than their peers at S&P 500 firms.

The Institute for Policy Studies' data (.pdf) demonstrates that the larger the layoffs a CEO oversees inside his company, the more money he will make.

Former HP boss Mark Hurd makes the list for having bagged $24.2 million last year while firing 6,400 workers, many of whom presumably got a good chuckle out of Hurd's own abrupt exit last month.

Copyright © 2010 IDG Communications, Inc.

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