Sunday, 30 October 2011

Boss made 300 redundant while being paid over £300k

The Oxford Times reports:

THE boss of an Oxfordshire-based education firm, which last month announced up to 300 people would be made redundant, has left the business.

RM Education chief executive Terry Sweeney who was paid £305,000 a year, stepped down on Tuesday. The announcement led to share prices rising from about 45p to 55p yesterday.

Perhaps if Mr Sweeney had been on a more reasonable salary, say £65k, he wouldn't have needed to make so many people redundant.

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