Administration to order big pay cuts for top executives at bailed-out firms
Martin Crutsinger, AP"WASHINGTON (AP) The Treasury Department is expected in the next few days to order companies that received huge government bailouts last year to slash the base salaries of their top executives by an average of 90 percent and cut their total compensation in half, according to a person familiar with the matter. "The cuts apply to the 25 highest paid executives at the seven companies that received the most assistance, the person said Wednesday, speaking on condition of anonymity because the decision has not been announced. Smaller companies and those that have repaid the bailout money, including Goldman Sachs Group Inc. and JPMorgan Chase & Co., are not affected." Read on...
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"Administration to order big pay cuts for top executives at bailed-out firms", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), octobre 2009. Consulté le 29/02/2024. URL: https://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/administration-to-order-big-pay-cuts-for-top-executives-at-bailed-out-firms