Business Services Industry
Communications Authority of Thailand's Bonus Plan Seen As a Problem.
Knight Ridder/Tribune Business News, March, 2003
By Komsan Tortermvasana, Bangkok Post, Thailand Knight Ridder/Tribune Business News
Mar. 12--The planned privatisation of the Communications Authority of Thailand (CAT) is expected to run into trouble when its bonus plan is forwarded to the cabinet for approval end of this month.
Under the bonus plan promised to the 22,000 staff by the Thaksin Shinawatra government, each employee will receive two months' salary in cash, free shares equivalent to two months' salary, and the right to buy warrants at par value with a total value equivalent to six months' salary.
The bonuses are inducements to persuade workers, represented by an influential union, to accept privatisation. The state agency is to be split into two companies -- CAT Telecom...
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