Corporate fat cats are going on an involuntary diet, and it’s not exactly for swimsuit season. Facing rising costs and shaky stock markets, big companies are cutting executive salaries and bonuses, forcing their top brass to tighten their belts—literally. Apparently, when the economic ship starts sinking, it’s time to toss the luxury perks overboard, along with the gourmet lunches.
Forget the days of million-dollar severance packages and golden parachutes; now it’s more like a coupon for economy class. CEOs who once feasted at the buffet of company profits are now getting served a reality check—and probably a side salad.
Of course, while they nibble on their slimmed-down paychecks, let’s not kid ourselves: they’re still enjoying a lifestyle most of us can only dream of, just with a few fewer zeros at the end of the bonus.