Tepco to Cut Worker, Board Pay as Much as 50% to Pare Costs
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Tokyo Electric Power Co., battling radiation leaks from a nuclear reactor crippled by the March 11 earthquake and tsunami, will reduce compensation for workers, management and executives to cut costs.
Annual remuneration for board members will be reduced by 50 percent, while pay for managers and workers will be cut by 25 percent and 20 percent respectively, the company said today in a statement on its website. The company known as Tepco will not hire new graduates next fiscal year, according to the statement.