Golden-handshake payouts unpopular with Euro ministers

Jamaica News.Net
Wednesday 14th May, 2008

Eurozone finance ministers are looking at ways to cap executive payouts, often know as golden-handshakes.

Ministers from the 15 countries using the euro are considering changed to tax rules so that large pay-outs are no longer tax deductible.

The large payments to senior executives leaving a company have become controversial as some executives have left their companies in disarray or in disgrace.

The EU members say arrangements for corporate high earners are making it increasingly difficult to justify calls on average workers to exercise wage moderation.

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