United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office National Security and International Affairs Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1995-10-10 monographic deposited born digital 50 p. GA 1.13:NSIAD-96-19BR https://www.govinfo.gov/app/details/GAOREPORTS-NSIAD-96-19BR P0b002ee180391f82 f:ns96019b DGPO 2010-08-12 2011-03-24 GAOREPORTS-NSIAD-96-19BR machine generated eng fdlp REPORT GAOREPORTS-NSIAD-96-19BR NSIAD-96-19BR Executive compensation Compensation Employee incentives Reductions in force Securities Severance pay Fringe benefits Department of Defense contractors Military downsizing Contractor personnel Briefing Report NSIAD Pursuant to a congressional request, GAO provided information on the top 10 Department of Defense (DOD) contractors, focusing on: (1) executive and employee compensation and executive stock options; (2) the nature and extent of these contractors' restructuring efforts in response to defense downsizing; and (3) the assistance provided to workers separated because of defense contractor downsizing.<p/>GAO found that: (1) the salary, bonus, and other cash payouts paid to the companies' top 5 executives ranged from about $230,000 in 1989 to $17.92 million in 1993; (2) although the net realized value of the executives' stock options ranged from $27,000 to about $26 million, not every executive exercised stock options in a given year; (3) the contractors' average annual compensation to salaried employees ranged from $48,100 to $55,000 and average annual compensation to hourly employees ranged from $30,200 to $39,500 in 1994; (4) contractors' restructuring efforts in response to decreasing DOD procurement included acquiring or merging with competitors, divesting noncore business units, consolidating production facilities, and commercializing military technologies; (5) contractors' assistance to separated employees included termination pay, outplacement services, and extension of employee health, dental, and insurance benefits; (6) 9 of the 10 companies encouraged voluntary separations by adding years to age and length of service computations to increase an employee's retirement annuity, continuing health insurance, or cash buyouts; and (7) DOD indicated that not all of the contractors' expenses for these items were reimbursable under their defense contracts. https://www.govinfo.gov/content/pkg/GAOREPORTS-NSIAD-96-19BR/html/GAOREPORTS-NSIAD-96-19BR.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-NSIAD-96-19BR/pdf/GAOREPORTS-NSIAD-96-19BR.pdf GAO/NSIAD-96-19BR https://www.govinfo.gov/app/details/GAOREPORTS-NSIAD-96-19BR Briefing Report GAO/NSIAD-96-19BR; Defense Contractors: Pay, Benefits, and Restructuring During Defense Downsizing; Executive compensation Compensation Employee incentives Reductions in force Securities Severance pay Fringe benefits Department of Defense contractors Military downsizing Contractor personnel