Boss cuts own pay by pounds 75,000; North East board 'sets example' on salaries.BOSSES at one of the region's largest private businesses took a 30% pay cut after cutting hundreds of jobs when the firm plunged into the red, it was revealed last night. The eight board members of the Esh Group agreed the cuts - which will save pounds 150,000 - to show "solidarity with the workforce" who've lost 200 jobs. The annual salary of chief executive Brian Manning Brian Manning (born May 21 1927; died April 24 2004) was a leading British Marxist historian, particularly of the English Civil War of the seventeenth century. A student of Christopher Hill, his best known work was The English People and the English Revolution. , pictured, was cut from pounds 250,000 to pounds 175,000. Former Newcastle Newcastle, city, Australia Newcastle, city (1991 pop. 262,331), New South Wales, SE Australia, on the Pacific Ocean. It is the center of one of the country's largest coal-mining areas and is a large port. Coal, wool, iron and steel, and wheat are exported. United chairman Freddie Fletcher Fletcher may refer to one of the following: Ideas and companies
The company has posted a loss of pounds 6.4m in 2008 compared to the previous year's pounds 10m pre-tax profit. Mr Manning said: "All board members have taken the drastic decision to take a pay cut as we want to show solidarity with our workforce." He said they also wanted to set an example. Full story 23 |
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