Home > Mission 2: Greedy CEOs > Greedy CEO: Michael Jeffries of Abercrombie & Fitch

Greedy CEO: Michael Jeffries of Abercrombie & Fitch

In 2009, Michael S. Jeffries received $36,335,644 in total compensation. This put Jeffries as the 8th highest paid CEO. By comparison, the average worker made $32,048 in 2009. Michael S. Jeffries made 1133 times the average worker’s pay.

While Jeffries was raking in the money, his employees were getting LAID OFF!

In April 2009, Abercrombie & Fitch announced that it was cutting 170 jobs at its home office in the wake of a steep decline in sales. That followed a January 2009 layoff where the company terminated about 50 employees at its New Albany headquarters, and confirmed that it would not fill dozens of open positions.

You’d think greedy CEO Jeffries could have given up 1% of his salary (approximately $363k) to help keep some jobs for his employees. Jeffries, you are a GREEDY CEO!

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