Executives at many top companies are agreeing to take cuts to their salaries
Vinjeru Mkandawire, The Telegraph
“Compensation is still too high” complained John Cryan, the former boss of Deutsche Bank at a conference on ethics and culture. “We’ve just paid people too much across the board.”
Cryan’s warning came as big banks faced a crackdown on exorbitant bonuses in the years following the financial crisis. His pleas may have struck a nerve with millions of employees at the time, and after a decade of close scrutiny of bankers’ bonuses all businesses are now facing more pressure for senior staff to share the pain of the coronavirus crash.