-
GR, GRP, PR: What do the French hiking signs mean?
What are the coloured symbols on French hiking routes? Who paints them there and why?
-
Miss France: glam - but not sexy
Miss France organiser Geneviève de Fontenay fears she is fighting a losing battle to protect her 'Cinderella dream' from vulgarity
-
Normandy Landings visit for Queen
Queen Elizabeth has confirmed a state visit to France, ending rumours she is handing over duties to Charles
MPs vote caps on golden parachutes
The National Assembly has agreed on legal limits to special payments made to retiring big business bosses
LIMITS to generous payments often made to retiring directors of big business and senior executives have been voted in by MPs.
Parachutes dorés (golden parachutes) and retraites-chapeau (special top-ups to pensions) are restricted in the new rules, voted in an amendment to next year’s budget law.
The former must not be more than twice as much as the highest amount set for compensation of a worker who is laid off, while the latter should be no more than 30 per cent of the last year’s salary.
Budget Minister François Baroin had opposed the changes, claiming that a code of practice adopted by big business last year was sufficient, and that the new rules may limit the ability of French firms to attract top talent.
Socialist MPs welcomed the move, saying they had been calling for it since last year. The (Socialist) president of the National Assembly’s Finance Commission, Jérôme Cahuzac, has previously spoken out about the huge retraites-chapeau gained by the bosses of Dexia and Alcatel-Lucent, who left their firms in a precarious state.
Previous story:
Directors' super-bonuses condemned