Monday, April 27, 2009

Top-managers of "AvtoVAZ" lose 20% of their salaries

OAO AvtoVAZ, which is promised to the amount of state $ 3 billion, will reduce the salary of its top managers. "I decided, and it has been signed by me, that the salary of top managers will be reduced by 20%, - told journalists the company president Boris Aleshin at the end of the expert council of the automobile industry in the State Duma. According to him, a decision has already been approved by the Board of Works. "We expect and the" contract "to revise the terms depending on financial performance", - added Boris Aleshin. In addition, he said, from November 1, repealed and awards. Possibility of payment will now be pegged to "targets of the company. "For each of the managers we have developed a set of 17 indicators," - said the president of AvtoVAZ.

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