Hyundai Motor Executives to Take 10 Percent Pay Cut - 4-traders : one website, all markets -BoardProspects

Hyundai Motor Executives to Take 10 Percent Pay Cut

4-traders : one website, all markets Oct 25 2016 BoardNews

Hyundai Motor Group said about 1,000 of its executives will take a 10 percent pay cut, the first such move in seven years at South Korea's second-largest conglomerate that shows the harsh impact of market share woes and labour strife at its flagship firm. The pay cuts affect executives at 51 group companies, a spokeswoman at flagship Hyundai Motor Co...
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Quotes
1. The pay cut is not that much, but symbolizes the severity of the difficulties Hyundai Motor Group is undergoing.
2. We are worried about next year's outlook.
Topics Mentioned
- Executive Compensation