Home / Corruption / Bankrupt Coal Company Alpha Natural Resources Pays Executive Millions In Exchange For Slashing Benefits
CREDIT: AP PHOTO/DAVID GOLDMAN, FILE
CREDIT: AP PHOTO/DAVID GOLDMAN, FILE

Bankrupt Coal Company Alpha Natural Resources Pays Executive Millions In Exchange For Slashing Benefits

Alpha Natural Resources, a bankrupt coal company headquartered in Bristol, Virginia, outlined a plan to pay top executives up to 11.9 million in bonuses over six months as a “reward” for slashing benefits for workers and simultaneously sidestepping environmental remediation obligations during its bankruptcy proceedings.

As one of the four largest coal companies in the US, seven executives and eight other employees who remain unnamed are eligible for the bonus if they hit certain metrics for cutting costs while protecting the company’s cash reserves.

These bonuses were, naturally, rationalized by Alpha as incentives to ensure “high-level performance.”

Read More – Think Progress

About Adam Ciminello

Entrepreneurship, Social Justice, and the idea of Bono never performing again are all things that excite me. And yes, my grandma is cooler than yours. Say hi sometime on twitter @Aciminello

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