Unilever Freezes Pay, Again

For the second consecutive year, Unilever has frozen the base salaries for executive directors and senior management members worldwide, and plans to allow managers to invest 60% of their bonus in company’s stock, reports the Economic Times.

 

The Times also reveals that starting this year, previously given benefits will be taken back if circumstances call for it.

 

"The changes are being spearheaded by Paul Polman, who took over as the CEO in January 2009. One of his first moves was to freeze salaries of senior managers—a decision the company management has extended for the second year," notes the Times, adding that the remuneration policy is aimed at supporting Unilever’s drive for profitable growth.

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