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HP Tightens Severance Policy For Executives

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HP Tightens Severance Policy For Executives

Business

HP Tightens Severance Policy For Executives

HP Tightens Severance Policy For Executives

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Hewlett Packard has been under fire for the golden parachutes it awards 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.

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.

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