Bombardier issued an open letter explaining the company’s compensation policies and called it “inappropriate” to compare the 2016 compensation to that of the previous year. It also contended that 75 per cent of compensation for most senior Bombardier executives is based on meeting performance targets and is not guaranteed. Hours earlier two Quebec cabinet ministers said Bombardier should reflect on the compensation it provided to its senior executives. However, Beaudoin’s voluntary pay cut, which Bombardier said will amount to roughly $1.4 million ($1.8 million Canadian), was labelled by some critics as an insufficient measure that didn’t address the issues behind the hikes. Renaud Gagne of Unifor, which represents almost 1,000 Bombardier workers, agreed that Beaudoin’s decision to renounce the raise didn’t mean much.

Source: thestar April 01, 2017 23:14 UTC