Postmedia paid $1 million in bonuses as it slashed jobs

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Postmedia paid $1 million in bonuses as it slashed jobs
Topic Started: Nov 28 2015, 03:30 AM (69 Views)
Darcie	Nov 28 2015, 03:30 AM Post #1
Skeptic Posts: 31,154 Group: Member Member #714 Joined: March 30, 2010	Quote: Postmedia Network paid nearly a million dollars in bonuses to executives for their hand in the deal to buy the Sun newspapers, even as the debt-saddled company was slashing costs and jobs across the country. Canada’s largest newspaper chain paid out a total of $925,000 in discretionary bonuses to its top six executives in the 2015 fiscal year ended in August, according to company documents filed Wednesday. CEO Paul Godfrey, whose base salary was unchanged at $950,000, received $400,000 in the special payout. He was also the only executive to receive a bonus under the short-term incentive plan. The short-term bonus amounted to $118,750, even though the company fell short of its operating profit target used to calculate that bonus structure. Godfrey’s total compensation was $1.76 million, up from $1.42 million the previous year. http://www.thestar.com/business/2015/11/26/postmedia-paid-1-million-in-bonuses-as-it-slashed-jobs.html Perfect example of how a corporation treats its workers when there is no union to defend them. There is 'no right to work' the corporation only has a 'right to fire' without a union.



heatseeker	Nov 28 2015, 04:30 AM Post #2
Veteran Member Posts: 10,320 Group: Member Member #713 Joined: March 30, 2010	Godfrey is a complete sleazebag who has made sleazy deals for decades in Toronto.



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