Arab Today, arab today panasonic president chairman take 50 pay cut
Last Updated : GMT 19:10:18
Arab Today, arab today
Arab Today, arab today

Panasonic president, chairman take 50% pay cut

Arab Today, arab today

Arab Today, arab today Panasonic president, chairman take 50% pay cut

Tokyo - Arabstoday

The president and chief executive of Japanese electronics giant Panasonic will have their salaries halved as part of a move to take the blame for the firm’s financial woes, the company said Wednesday. President Kazuhiro Tsuga and Chairman Fumio Ohtsubo have been returning 40 percent of their pay since November as a voluntary measure, while other executives have also given back up to 20 percent of their wages, a company spokeswoman said. But as of July, the programme will be made official, she said. The president and incoming-chairman Shusaku Nagae will receive a 50-per cent pay cut, she said, adding pay reductions for other executives were to be formalised. According to the firm’s official filing with the government for fiscal 2011, the company paid then-chairman Kunio Nakamura 133 million yen and 113 million yen to then-president Ohtsubo. Japan’s entire electronics sector has suffered from slow demand, falling prices and stiff international competition. Panasonic expects a net loss of 765 billion yen ($7.8 billion) for the year to March 2013, blaming it on slumping sales of televisions and other electronics as well as huge restructuring costs. The company was also negotiating with its unions over proposed pay cuts for its thousands of staff to reduce costs, the spokeswoman said. Source: Gulfnews.com

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today panasonic president chairman take 50 pay cut Arab Today, arab today panasonic president chairman take 50 pay cut

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today panasonic president chairman take 50 pay cut Arab Today, arab today panasonic president chairman take 50 pay cut

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday