https://www.sciencedaily.com/releases/2018/08/180821094200.htm

Scott Bentley, an assistant professor of strategy at Binghamton University's School of Management, worked on the research as a PhD student at Rutgers University. He and fellow researchers Rebecca Kehoe and Ingrid Fulmer, both associate professors at the Rutgers School of Management and Labor Relations, sought to find out if CEO pay was related to layoff announcements made by CEOs.

"In terms of strategic decisions that a CEO can make that could lead to higher pay, layoffs are one of the easiest to do," Bentley said. "Relative to other decisions such as mergers or acquisitions, layoffs typically don't need the approval of shareholders, the board or regulators, and they don't take years to do. Layoffs can be determined overnight."