I had a question to the people that know big corporation information

Just a question that I thought about but do CEO's of say large corporations that get laid off or fired are they able to claim unemployment and if so do they get like a quarter of what they were making or something?

reply to post by thegoods724


No, there is a cap on unemployment benefits. I want to say it's something in the neighborhood of $2400 per month. Maybe less.

The cap varies from state to state. Here in my neck of the woods the highest rate of unemployment pay is $326/week......and they tax that just like a regular paycheck.

CEO's and the like generally don't get laid off, they are fired or retired. In either case they usually have a generous severance package to hold them over, generally referred to as "golden parachute".

reply to post by cdnutz44


Yeah I was wondering who exactly is over the "chief" executive officer that could decide that the position is no long of use... i think the op meant executives in general though, which do get sometimes get laid off

Usually the Board of Directors hires and fires Preidents, CEOs, COOs, and all those other chiefs. Directors usually are, or represent, major shareholders in the company.

Originally posted by charles1952
Usually the Board of Directors hires and fires Preidents, CEOs, COOs, and all those other chiefs. Directors usually are, or represent, major shareholders in the company.

And sometimes they do it over phone, like Yahoo's CEO Carol Bartz.

"I am very sad to tell you that I've just been fired over the phone by Yahoo's Chairman of the Board. It has been my pleasure to work with all of you and I wish you only the best going forward," the outspoken CEO said in a two-sentence email to employees obtained by Reuters.

The decision to oust Bartz was reached by an unanimous vote of Yahoo's eight independent directors late last week, according to a person close to the company. Bartz, and co-founder Jerry Yang, who are also on the board, did not participate in the vote, the person said.