6000 Layoffs Result in Big Bonuses for Borders Execs

Under the plan, CEO Bennett LeBow would get as much as $1.7 million. The executive vice president would receive $1.1 million, while the vice president for human resources would $374,000. The corporation would pay out another $2.4 million in other bonuses and $1.2 million in various payments to other executives.

Blogger Hrafnkell Haraldsson fumes over a corporate culture that continues to reward incompetence.