The Investment Association and investors Fidelity have both warned companies against excessive pay where furlough money has yet to be repaid.
Pay is in the news again. This time boards have been warned that pay should not be excessive, especially if their companies have received pandemic furlough money that has not been paid back. The ethical dimensions of pay in a world of Covid-19 continue to multiply.
This week’s fresh focus on pay takes place in two acts: one from the Investment Association, an organisation for institutional investment managers; and one direct from $3.3trn global investment house Fidelity.
Fidelity’s action took the form of a letter written directly to the boards of FTSE 350 companies. The note is reported to have warned boards that a “restrained ap
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