It's ever so slightly different from the original plan at Transocean, when they handed out mega-bonuses based on their "best safety record" claim. But hey, we can't even get bankers to accept pay cuts following a global economic meltdown. Bloomberg:
Tokyo Electric Power Co. workers agreed to a management proposal to cut their pay by as much as 25 percent out of a sense of responsibility for the world’s worst nuclear disaster since Chernobyl, their union said.
“Most union members didn’t object to a pay cut, considering the situation at the company and the effect on society from the nuclear accident,” Koji Sakata, secretary- general of the Tokyo Electric Power Workers Union, said by telephone today.
The utility known as Tepco is battling radiation leaks at the Fukushima Dai-Ichi power plant north of Tokyo after a March 11 earthquake and tsunami knocked out its cooling systems, causing the biggest atomic accident in 25 years. More than 50,000 households were forced to evacuate, and Bank of America Corp.’s Merrill Lynch estimates Tepco may face compensation claims of as much as 11 trillion yen ($135 billion).
