guardian.co.uk: Costcutting US bosses earn 42% more than rivals, says IPS research

guardian.co.uk: Costcutting US bosses earn 42% more than rivals, says IPS research

September 1 2010

A report by the Washington-based Institute for Policy Studies (IPS) will conclude that US chief executives shared little of the pain felt further down their workforces as house prices slumped, consumer spending dried up and unemployment peaked at 10.2% last year.

Joe Sorrentino, an expert at pay consultants Steven Hall & Partners in New York, pointed out that bosses can face difficult decisions in cutting workforces for the good of their companies: “Making decisions that are right for a company as a whole can, unfortunately, lead to job losses.  That’s not a great outcome but it’s the reality at this point in the economy.”