10 CEOs Who Got Rich By Squeezing Workers
How layoffs and benefit cuts boosted pay at the top of Walmart, GE, Monsanto, and seven other companies.
Corporate profits grew 38.8 percent in 2010, the biggest increase since 1950. But while CEOs earned an average of 20 percent more last year, many Americans continued to lose their jobs and benefits. The insecurity of the middle class has a lot to do with how executives are paid. Bonuses pegged to stock prices encourage CEOs to mercilessly outsource and downsize, slashing costs to boost profits. The result is that more corporate leaders are getting paid at the expense of average workers. Here are 10 of the worst offenders:
*Duke's pay would have dropped even more had Walmart not stopped calculating his bonus based on same-store sales, which have declined over the past two years.