Arab Today, arab today world bank cfo gives up bonus after uproar
Last Updated : GMT 05:39:47
Arab Today, arab today
Arab Today, arab today

World Bank CFO gives up bonus after uproar

Arab Today, arab today

Arab Today, arab today World Bank CFO gives up bonus after uproar

French bank Societe Generale's Financial Director, Bertrand Badre
Washington - AFP

The World Bank's top chief financial officer Bertrand Badre gave up a controversial $94,000 bonus after a staff uproar over the issue, officials said Tuesday.
World Bank President Jim Yong Kim announced the change in a meeting with staff called urgently on the eve of the global crisis lender's annual meetings in Washington, spokesman David Theis confirmed to AFP.
Badre's bonus, granted despite Kim's budget-slashing austerity program at the bank, had sparked anger, and last week the World Bank Group Staff Association demanded Kim meet them to explain the issue.
Badre, from France, was hired in March 2013, one year into Kim's tenure as president, and was awarded a $94,000 bonus for fiscal year 2014, in addition to his net annual salary of about $380,000.
A staff association memo on the issue last week described "major frustration over bonuses to senior management leading the cost-cutting exercise currently underway."
It also referred to "a lack of communications from management... and the overall climate of fear and confusion that is permeating the corridors."
After President Barack Obama nominated him to lead the Bank, Kim launched a sweeping reorganization aimed at cutting the $5 billion annual expenditures by $400 million over three years, including possible staff cuts.

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 world bank cfo gives up bonus after uproar Arab Today, arab today world bank cfo gives up bonus after uproar

 



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 world bank cfo gives up bonus after uproar Arab Today, arab today world bank cfo gives up bonus after uproar

 



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 Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
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