Arab Today, arab today panasonic president chairman take 50 pay cut
Last Updated : GMT 17:58:57
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 - AFP

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 on Wednesday. President Kazuhiro Tsuga and Chairman Fumio Ohtsubo have been returning 40 per cent of their pay since November as a voluntary measure, while other executives have also given back up to 20 per cent of their wages, a company spokesman 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 that pay reductions for other executives were to be formalised.

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