State support means no bonuses in future: finance minister
Financial services groups which are bailed out by the treasury will in the future have to stop paying senior staff all their bonuses, even if they relate to previous years’ peformance, finance minister Jan Kees de Jager is reported as saying by Nos tv.
A government bailout should result in the same treatment for executives as bankruptcy, De Jager said. And that means all extra cash should be put back into the company.
Until now, executives have only lost their bonuses over the year in which the state support was paid out.
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