One of the mysteries of the English language finally explained.
A large payment or other financial compensation guaranteed to a company executive should the executive be dismissed as a result of a merger or takeover.
- ‘Half the executives took their golden parachutes and the other half never came in to work.’
- ‘While top executives get a gleaming golden parachute, the other 30,000 employees are on their own - goodbye and good luck.’
- ‘His decision to help out jobless workers stands in stark contrast to the many chiefs who grab the golden parachute and merely wave good-bye.’
- ‘The days of outlandish golden parachutes may be of yesteryear.’
- ‘Every record executive I know has health insurance, a nice house in the hills and a golden parachute.’
- ‘Basic pay, bonuses, share holdings, option grants, pension contributions, benefits in kind, golden parachutes - they're all in the annual report.’
- ‘He liked the sweet golden parachute that came with his retirement.’
- ‘But these fired CEOs are walking away with golden parachutes paying them more money for being fired than most Americans earn in a lifetime.’
- ‘After all, what need would there be for golden parachutes if they believed that they and their corporations had a secure future?’
- ‘Out goes the most powerful woman in corporate America, with a $45m golden parachute to help her to a nice soft landing.’
- ‘Companies are continuing to award executives with huge severance payoffs, or so-called golden parachutes.’
- ‘Rumours are spread about CEOs who get golden parachutes and entrepreneurs who leave with pockets stuffed full of cash.’
- ‘There are no golden parachutes for ordinary workers who lose their jobs as a result of corporate mergers, downsizing and the plundering of company assets by millionaire executives.’
- ‘The $100m golden parachute was on top of the $322m he made in the past three years from salary, bonuses and long-term compensation, such as exercised stock options.’
- ‘Money could reach into the billions, given the oversized options, bonuses, and golden parachutes granted in recent years.’
- ‘There were no such golden parachutes for the over half a million laid-off telecom workers.’
- ‘The pair were referencing the exorbitant golden parachutes given just since last year to previous officials of the struggling airline.’
- ‘Rather, he has baled out with a golden parachute.’
- ‘Still, he left with a 7-figure golden parachute, and only the unitholders were unhappy.’
- ‘If you're about to launch an IT initiative big enough to warrant its own name, you should probably make sure you have a really good golden parachute.’
Top tips for CV writingRead more
In this article we explore how to impress employers with a spot-on CV.