Cindy Olson
Executive Vice President of Human Resources and Community Relations who administered Enron's controversial PRC rank-and-yank system, oversaw the 401(k) plan, and was the first executive to testify before Congress after the collapse.
401k
5 entries
C
E
Enron Bankruptcy
The December 2001 collapse of America's seventh-largest corporation, the largest bankruptcy filing in U.S. history at the time.
H
Human Resources
Enron's HR department, led by EVP Cindy Olson, administered the rank-and-yank PRC system, managed corporate values programs, oversaw the 401(k) plan, and became the frontline for mass layoffs and the $250 million ERISA settlement after the 2001 collapse.
R
Retention Bonuses and the 401(k) Lockout
Enron's controversial $55-58 million in retention bonuses paid to 500 employees just before bankruptcy, while 4,500 workers lost their jobs and saw retirement savings decimated during a 401(k) lockout.
T
The Enron Stock Price Collapse
Enron's stock price fell from its all-time high of $90.75 in August 2000 to $0.26 by November 30, 2001 -- a 99.7% decline over 16 months that destroyed $70 billion in market capitalization, wiped out $2.1 billion in employee pension plans, and eliminated 5,600 jobs.