What are golden parachutes?
A) the rights of the managers to lay off employees if they are not performing well
B) the rights of the customers to receive compensation if the product bought by them is faulty
C) rights of the managers to receive large sums of money if they are fired when their company is taken over
D) the rights of the workers to receive compensation if they are injured on the job

Question

Quizplus · Accepted Answer

Golden parachutes refer to the compensation packages that are provided to top executives or managers in a company in the event of their termination due to a merger or takeover. These packages often include large sums of money, stock options, and other perks, which are designed to provide some financial security to the executives who may lose their jobs due to the change in ownership or leadership.

What Are Golden Parachutes