Corporations eliminate second-in-command roles to save on costs
(NEWSER) - Cost-cutting at American's largest corporations is hitting the executive suite, with CEOs rolling up their sleeves to take on more day-to-day responsibilities and laying off their No. 2s. In the 18 months leading up to June 2009, 40 major companies eliminated COOs or presidents, the Wall Street Journal notes, while only 20 added. "The CEO wants to be closer to the action," one headhunter said. More»
