Wednesday, March 24, 2010

Top executives of GM and Chrysler have cut wages

Top executives of GM and Chrysler have cut wages.jpg   According to the results in 2010 119 top managers of major U.S. companies including General Motors and Chrysler, will receive on average 15-33% less pay than a year earlier. With such a demand was made by Kenneth Feinberg, the Commissar of wages and a member of a special anti-crisis of the Supervisory Board at the U.S. government, reports the agency Bloomberg. Increased control over payment is
intended to avoid squanders public funds allocated to the largest U.S. companies to deal with the crisis.

   In addition to General Motors and Chrysler, in the list affected by "repression" of the companies financial unit automakers - GMAC Inc. and Chrysler Financial Corp. respectively. The restrictions will affect not only cash payments, but also other bonuses, including stock companies, compensation of transportation costs, etc.

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