Fired Dell Exec Gets $10 Million Severance Package (DELL)

If only Dell’s (DELL) former president of global operations, Michael Cannon, was as good at running a computer company as he is at negotiating employment contracts.

Cannon, who was let go from Dell last month, will get a $10 million severance package while serving as “consultant” to the company, SEC filings reveal.

It gets worse: Chief marketing officer Mark Jarvis, also canned, gets 12 months’ base salary and — if you believe it — a “target bonus.”

None of this can be reassuring to Dell shareholders, who have seen Dell shares lose about 57% of their value in the past year. Nor to Dell’s employees, who are being laid off and asked to take unpaid time off from work.

See Also:
Michael Dell Cans Execs He Handpicked To Save The Company
Dell Freezes Hiring, Cuts Travel, Contract Workers
Dell Slashes 1,900 Irish Jobs, Moves Some To Cheap Poland

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