Thank you, AI - I missed this somehow.
Omar Abbosh's £13m "golden hello" (announced Sept 2023):
A massive one-time buyout package in cash + restricted shares to compensate for what he "lost" leaving Microsoft. On top of his £1m base salary, up to £3m annual bonus, and huge LTIP grants. Pearson's own announcement framed it as "consistent with the 2023 remuneration policy" shareholders approved earlier that year—despite nearly half rejecting the prior CEO's package. Shares dropped ~5% on the news, and outlets like Reuters called it "baiting shareholders" while the company was still restructuring.
Severance policy gutted in 2023: Right around the same time (mid-2023, effective June 15 for some legacy plans like the old National Computer Systems severance), they terminated standard US severance benefits. Hit hard during layoffs—e.g., the former Pearson Online Learning Services (POLS)/Boundless Learning unit axed roughly half its staff in Aug 2023 with zero severance, no PTO payout, abrupt access cutoffs. Long-timers got nothing. Execs acknowledged in town halls that changes (like losing Maryville University contracts) were planned for months, yet rank-and-file got the short end while the new CEO rolls in with kingly compensation.
It's textbook "rules for thee, not for me"—workers lose protections and get zilch during cuts, but the C-suite gets multi-million welcomes to "lead the transformation."