Similar Stories to Cca Plans Layoffs And Ceo Pay Cuts As Its Stock Keeps Dropping on Bing News

Becca Andrews, Mother Jones
Tue, 09/27/2016 - 3:30pm

The Corrections Corporation of America, the nation's second largest private prison company, announced today that it will eliminate 50 to 55 full-time positions—approximately 12 percent of the corporate workforce—at its headquarters in Nashville, Tennessee. As part of a new effort to restructure the company and reduce costs, CEO Damon Hininger will also forfeit stock options and compensation worth $3.7 million. CCA, the subject of a major Mother Jones investigation, has recently faced a series of setbacks.

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