Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

McCain's health vote backlash

Read more

THE DEBATE

The Macron Touch: Can the new French President be Libya's Peacemaker?

Read more

THE INTERVIEW

'Maduro's regime is a criminal dictatorship'

Read more

FOCUS

Kenyan authorities step up security amid Al-Shabaab threat

Read more

ENCORE!

Rock icons Midnight Oil on politics, passion and their long-awaited comeback

Read more

IN THE PAPERS

'Sleep tight beautiful boy': Charlie Gard's parents to take him off life support

Read more

EYE ON AFRICA

South Africa's 'Guptaleaks': New website aims to reveal extent of 'state capture'

Read more

IN THE PAPERS

Building walls: French protesters block access to hotel migrant shelter

Read more

BUSINESS DAILY

Google parent company's profits hit by EU fine

Read more

Business

Natixis confirms paying €90 million in bonuses

Video by Shona BHATTACHARYYA

Text by FRANCE 24 (with wires)

Latest update : 2009-03-27

Adding to the controversy surrounding big bonuses paid to company executives, French bank Natixis confirmed it doled out 90 million euros worth of bonuses for 2008. A bank spokesman confirmed that 3,000 of its employees received them.

French Natixis bank is in the middle of a new controversy on business executives' revenues, a day after France's government announced that it would ban stock options and bonuses for executives of companies which have received state aid.

 

A bank spokesman confirmed that it had distributed 90 million euros worth of bonuses to 3,000 of its employees - mostly traders - for 2008. The amount of bonuses was cut down by 73% compared with 2007, the spokesperson added.

 

Natixis, a subsidiary of Caisse d'Epargne and Banques Populaires heavily hit by the global financial crisis, lost a total of 2,8 billion euros in 2008. The bank already laid off 1,250 people last year and has plans to let another 166 go. Meanwhile, the French government has announced a five billion euro subsidy to newly merged Caisse d'Epargne and Banques Populaires.

Date created : 2009-03-27

COMMENT(S)