HP Tightens Severance Policy For Executives
RENEE MONTAGNE, HOST:
NPR's business news starts with a smaller golden parachute at HP.
Hewlett Packard is tightening its severance policy for executives. The company has been under fire for the golden parachutes it's awarding its outgoing CEOs. A chief let go earlier this year received nearly $10 million in severance and bonuses for what was less than a year's work. And the CEO fired before that received nearly $35 million when he left.
The new policy affects how severance is calculated and how it's paid. Transcript provided by NPR, Copyright NPR.