AGL 40.37 Increased By ▲ 0.36 (0.9%)
AIRLINK 127.50 Decreased By ▼ -0.49 (-0.38%)
BOP 6.64 Increased By ▲ 0.04 (0.61%)
CNERGY 4.52 Decreased By ▼ -0.08 (-1.74%)
DCL 8.60 Increased By ▲ 0.12 (1.42%)
DFML 41.85 Increased By ▲ 0.37 (0.89%)
DGKC 87.75 Increased By ▲ 1.17 (1.35%)
FCCL 32.80 Increased By ▲ 0.66 (2.05%)
FFBL 64.90 Decreased By ▼ -0.52 (-0.79%)
FFL 10.35 Increased By ▲ 0.10 (0.98%)
HUBC 109.99 Decreased By ▼ -0.50 (-0.45%)
HUMNL 14.81 Increased By ▲ 0.06 (0.41%)
KEL 5.12 Decreased By ▼ -0.01 (-0.19%)
KOSM 7.55 Increased By ▲ 0.43 (6.04%)
MLCF 41.70 Increased By ▲ 0.05 (0.12%)
NBP 59.67 Decreased By ▼ -0.42 (-0.7%)
OGDC 194.60 Decreased By ▼ -0.09 (-0.05%)
PAEL 28.25 Increased By ▲ 0.30 (1.07%)
PIBTL 7.83 Decreased By ▼ -0.17 (-2.13%)
PPL 152.30 Increased By ▲ 1.13 (0.75%)
PRL 26.65 Decreased By ▼ -0.23 (-0.86%)
PTC 16.25 Increased By ▲ 0.25 (1.56%)
SEARL 86.02 Increased By ▲ 7.82 (10%)
TELE 7.63 Increased By ▲ 0.24 (3.25%)
TOMCL 35.50 Decreased By ▼ -0.17 (-0.48%)
TPLP 8.15 Increased By ▲ 0.24 (3.03%)
TREET 16.18 Increased By ▲ 0.29 (1.83%)
TRG 52.94 Increased By ▲ 0.18 (0.34%)
UNITY 26.74 Increased By ▲ 0.19 (0.72%)
WTL 1.25 Decreased By ▼ -0.02 (-1.57%)
BR100 9,941 Increased By 20.6 (0.21%)
BR30 30,872 Increased By 120.5 (0.39%)
KSE100 93,732 Increased By 507.8 (0.54%)
KSE30 29,051 Increased By 165.6 (0.57%)

The chief executive of the Financial Times, John Ridding, is to return some of his pay from last year following staff criticism, the business daily reported on Thursday. In a note to employees, he said he would return a 2017 pay increase which took his total package to more than £2.5 million (2.8 million euros, $3.2 million) - a 25 percent jump on the previous year, the FT said.
Ridding's pay increase was £510,000, and after tax, the amount returned to the company will be about £280,000. He said "the first call on these resources" would be a fund to "support the advancement of women into more senior roles at the FT and reduce the gender pay gap".
The National Union of Journalists welcomed the move but said it "does not go far enough". It had complained that Ridding's pay appeared to represent more than half of the FT's £4 million operating profits from 2017. The firm said that figure did not represent earnings of its global business, which were above £20 million, the FT reported.
The NUJ also said the rise "makes a mockery of any concept of fairness" after "years of negligible pay rises and real-term pay cuts" for staff, as well as squeezed resources and pension reforms. A survey by the High Pay Centre and the Chartered Institute of Personnel and Development published this week found the average annual pay packet of Britain's top executives jumped 23 percent in 2017, and was 160 times the average full-time wage.

Copyright Agence France-Presse, 2018

Comments

Comments are closed.