For the first time since Japans last oil shock in the 1980s Mitsubishi Electric Corp. has been forced to pay employees in kind. Managers received a small percentage of their December bonus in coupons for company products. Executives and board members had ...
For the first time since Japans last oil shock in the 1980s Mitsubishi Electric Corp. has been forced to pay employees in kind. Managers received a small percentage of their December bonus in coupons for company products. Executives and board members had their bonuses cut 10% to 20%. The reason: nonconsolidated pretax profit for April-September, the first half of the firms 1997 fiscal year, was down 79% from the previous year.
