A study released last week by the left-leaning Institute for Policy Studies found that the CEOs of the 50 firms that laid off the most workers since the onset of the economic crisis earned 42 percent more than the average pay for an S&P 500 company — a difference of roughly $3.5 million.
Correlation doesn’t imply causation, but the findings are intriguing.
According to Steve Goldstein at MarketWatch, the study found that 72 percent of the announced layoffs came at a time when the company was reporting positive earnings.
“This reflects a broader trend in Great Recession Corporate America: squeezing workers to boost profits and maintain high CEO pay,” said the study.
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