J.C. Penney Awards Million-Dollar Bonuses as Bankruptcy Looms

Just because J.C. Penney (NYSE: JCP) is expected to file for bankruptcy on Friday, missed its bond payments, is scrounging in the couch cushions for money to keep going through a restructuring, and has furloughed tens of thousands of employees doesn't mean its executives don't deserve a bonus.

Despite the tough times, the troubled retailer gave CEO Jill Soltau a $4.5 million bonus, while the CFO, CMO, and top human resources executive were all given $1 million bonuses.

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Source Fool.com