Golden Parachutes

Typically, "golden handshakes" are offered only to high-ranking executives by major corporations and may entail a value measured in millions of dollars. Golden handshakes are given to offset the risk inherent in taking the new job, since high-ranking executives have a high likelihood of being fired and since a company requiring an outsider to come in at such a high level may be in a precarious financial position.

In India , golden handshake schemes are called ''Voluntary retirement schemes'', where employees are offered benefits in return for early retirement.

''See also:'' Golden Parachute

EXTERNAL LINKS

{Link without Title} - The Guinness World Records page on F. Ross Johnson , the record holder for largest Golden handshake (US$53,800,000 from RJR Nabisco ) in February 1989

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Golden Parachutes