Ex-CEO Runs Target Into The Ground, Gets More In Severance Than All 17,600 Laid-Off Target Canada Employees Combined

by RIKA CHRISTENSEN – Earlier this month, Target’s foray into Canada ended with the closure of all 133 of its stores. That meant that roughly 17,600 Canadian workers lost their jobs. They got severance, which is good. However, according to CBC News, Target’s now ex-CEO’s own walk-away package eclipsed what all those workers put together got, by nearly $5 million. That doesn’t sound like a huge difference, but when you consider that $56 million got spread across 17,600 employees, while one man received $61 million (including a $15.9 million in severance alone) for running Target into the ground, it becomes considerably bleaker, and is an excellent example of one of the major problems with big business. In 2011, The New York Times explained in 2011 that CEO compensation for running companies into the ground flourished in the wake of the 2008 economic crash. That’s despite the fact that the crash...

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