It Was Company Loyalty, No Doubt

When Robert L. Yohe was asked to help Olin Corp. restructure, he knew he’d have tough decisions to make. Yohe showed how tough he was: He cut his own job.

Olin, a chemicals, metals and defense company, announced in December that it would cut 600 jobs. The company said this week that Yohe’s job (vice chairman for corporate resources) would be one of those to go.

“That’s the buzzword today, making companies leaner and meaner,” said Yohe, 57. “Lean and mean means you do it at every level.”

But you probably won’t find him in the unemployment line: Yohe’s severance package includes a year’s salary--we’re talking $350,000--plus other bonuses. Now that’s a buyout.