The Résumé Guy» Executive Compensation http://theresumeguy.com Looking for a job? Been there...done that... Tue, 20 Jul 2010 16:00:19 +0000 en hourly 1 http://wordpress.org/?v=3.0 Citigroup cuts bonuses and severance for top execs.. http://theresumeguy.com/23/citigroup-cuts-bonuses-and-severance-for-top-execs/ http://theresumeguy.com/23/citigroup-cuts-bonuses-and-severance-for-top-execs/#comments Wed, 31 Dec 2008 22:07:36 +0000 Steve http://theresumeguy.com/?p=23 ...though not voluntarily.

As a condition of receiving $45 billion of U.S. taxpayer's money, Citigroup was required to change its executive compensation plan, which has been approved by Uncle Sam. One good feature is the "clawback" policy which will "be…

]]> ...though not voluntarily.

As a condition of receiving $45 billion of U.S. taxpayer's money, Citigroup was required to change its executive compensation plan, which has been approved by Uncle Sam. One good feature is the "clawback" policy which will "be able to recoup executive compensation 'that over time proves to be based on inaccurate financial or other information,'" according to a memo by CEO Vikram Pandit. I'm sure the 50,000 Citigroup employees who have been, or are scheduled to be, laid off will sleep better tonight.

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