Whether CEO pay is linked with job loss or mass layoffs is not really a new question. The study that got the author started, and raised very interesting issues about job loss and compensation, looked at CEOs at a few dozen companies over one year. Separating companies into those that made a layoff announcement in the previous year and those that didn't, you will find that the CEOs who made at least one large layoff the previous year make a lot more than those who made no layoffs in the previous year. But, once one starts controlling for company and CEO attributes, essentially subdividing companies and their CEOs by other characteristics, the findings change quickly. As the US labor market continues its slow climb out of the doldrums, how CEOs, other employees and firms fare after employee layoffs will continue to be an interesting topic, and there is a lot more interesting research to be done.

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