The report, Executive Excess 2003: CEOs Win, Workers and Taxpayers Lose, was compiled by business thinktanks the Institute for Policy Studies and United For a Fair Economy.
Hewlett-Packard chief executive Carly Fiorinas pay shot up by 231% to 2.6m ($4.1m) even though the company shed 25,700 staff during 2001.
Xerox chief executive Anne Mulcahy saw her pay increase by 48% to 5.1m as the company disposed of 4,000 staff.
The report blames Congress for not doing enough to limit chief executives wages.
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