USA: Bankrupt Burlington To Give Bosses Huge Bonuses
Top executives at bankrupt textile giant Burlington Industries are set to receive massive bonuses after a federal judge approved a reorganisation plan. The move is a bid by the troubled company to stop their top managers from leaving during the company's bankruptcy reorganisation. It means six top Burlington executives are now eligible to receive "incentives payments" of up to 120 per cent of their salary - something that could cost the firm a total of $2.3 million.
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