The fifteen big companies in banking, insurance and automobile sector which have received billions of dollars of aid money in the last two years, have been asked to revamp the pay structure for the top management. The Pay czar has ordered the pay cuts few days back, and this is expected to force many star performers out of these ailing organizations.
That may in turn make life more difficult for these companies in the days to come, as the US FED starts withdrawing the monetary easing.
US orders pay cuts in firms on aid