Pay cut for top Polish managers?
PR dla Zagranicy
Paweł Kononczuk
19.04.2016 16:54
The Polish government has adopted a draft law designed to save almost PLN 60 million (EUR 14 million, USD 16 million) a year by cutting pay for the heads of a range of companies in which the state has a stake.
Photo: Flickr.com/włodi
Under the new rules, pay for bosses of such companies would be linked to performance in hitting targets as well as the size of the firm.
Under the current system, pay restrictions apply to companies in which the Treasury owns above 50 percent of shares.
The rules at present do not apply to firms like giant copper producer KGHM, in which the Polish state owns around 32 percent of shares.
Top managers at state-controlled companies in Poland have drawn flak in the past for being awarded hefty pay cheques even when their companies were performing poorly. (pk)
Source: PAP