Workers to have say on top salaries

Workers in major companies will have the right to give their advice on executive salaries under new draft legislation, reports Tuesday’s Financieele Dagblad.

Under justice minister Ernst Hirsh Ballin’s proposal, workers councils (ondernemingsraden) will only be entitled to advise on top pay in companies where the majority of employees are based in the Netherlands.
‘This will give the Netherlands an exceptional position in international terms and that is bad for the investment climate’, the employers’ association VNO-NCW told the FD.
According to Rients Abma of the shareholders’ organisation Eumedion this will mean KPN, TNT and ASML will fall under the new law as well as public firms such as the energy utilities Essent and Nuon.

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