Following up on 1% Success Stories: Man Makes $10 Million For 9 Months Work.
From the Dallas Business Journal:
J.C. Penney Co. Inc. laid off more than 350 corporate employees Tuesday at its Plano headquarters, bringing the number of employees laid off at the Plano office to more than 900 since April.
"We have simplified processes, removed unnecessary work and reduced layers to help us make better and faster decisions. While difficult, these decisions are in the long-term interests of jcp and our stakeholders." CEO Ron Johnson said in a statement.
I imagine the severances for those 600 plus employees - most of whom surely worked more than 9 months - will not be anywhere close to $10 million. But clearly paying that flash-in-the-pan President $10 million paid off for JC Penney somehow, hey maybe he'll shop there (probably not).
Don't punish success.