Nortel 's was able to offer $ 70 million in bonuses to top management as a result of laying off 2/3 of its personnel .
The black ink created from laying off 2/3 's of its workforce triggered a total of $ 70 million in bonuses to the top 43 managers , with $ 7.8 million going to Dunn alone , $ 3 million to chief financial officer Douglas Beatty , and $ 2 million to controller Michael Gollogly .
Nortel