Jacobs calls government company heads to freeze pay - TheStreet

Jacobs calls government company heads to freeze pay

Part of effort to deal with rough and tumble economy
Author:
Publish date:

Government Companies Authority General Manager Yaron Jacobs recently called on the managers of government companies to freeze their pay, or in other words to give up their pay rise for 2002, Ma'ariv reports.

The top executives' pay was due to be increased in light of the fact it was linked to the average pay in the market. Jacobs wrote the executives the pay freeze was necessary in light of the tough market conditions and the efforts made by local authorities and other public entities.