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General

Alcatel-Lucent unions call for executive salary cuts

Tuesday 12 June 2012 | 09:01 CET | News
Alcatel-Lucent's French union representatives made a declaration on behalf of the group's European employees at its AGM in which they called for "the re-establishment of a real social dialogue and cuts in managers' salaries", AFP reports. The unions claim that it is unfair to freeze workers' pay when bosses' salaries rose by 36 percent in 2011. Salaries and bonuses paid to top executives rose from EUR 22 million in 2009 to EUR 25 million in 2010 and EUR 30 million in 2011, they said. The chairman of the remuneration committee, Jean-Cyril Spinetta, said that board members' combined salaries, including fixed and variable elements, declined by 6.35 percent to EUR 13.7 million in 2011 from EUR 15.6 million a year earlier. He said variation with the unions' figures result from accounting differences in the estimated value of stock options.

Categories: General
Companies: Alcatel-Lucent
Countries: France
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