News
| Pay Czar to Slash Compensation at Seven Firms |
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| Posted by lily on Oct 21, 2009 @ 18:55 | |||||||||||
| The U.S. pay czar will cut in half the average compensation for 175 employees at firms receiving large sums of government aid, with the vast majority of salaries coming in under $500,000, according to people familiar with the government's plans. As expected, the biggest cut will be to salaries, which will drop by 90% on average. Kenneth Feinberg, the Treasury Department's special master for compensation, also intends to demand a host of corporate governance changes at those firms. .. . | |||||||||||
| Topic: News Headlines | |||||||||||
| Tags: czars, pay czar, us government | |||||||||||
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