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> Hertz - which recently terminated more than 14,000 workers - paid senior executives bonuses of $1.5 million days before its May 22 bankruptcy, in part to reco
by abeppu 6y ago
> Hertz - which recently terminated more than 14,000 workers - paid senior executives bonuses of $1.5 million days before its May 22 bankruptcy, in part to recognize the uncertainty they faced from the pandemic’s impact on travel, the company said in a filing.
Compensate the C-suite for confronting uncertainty, but fire the workers.
This seems like another variant of "brutal capitalism for the poor, socialism for the rich". Normally we hear it for governments bailing out companies but not (normal) individuals, but here it's companies ensuring their highest paid remain well-paid and thousands of workers are fired.
- AdrianB1 6y agoIt has nothing to do with capitalism or socialism, it's a corrupt compensation scheme for C level executives. Corrupted schemes exist in any political system.