HP Tightens Severance Policy For Executives

Originally published on December 15, 2011 7:15 am
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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.