Spectator on facebook

Spectator on facebook

Transport Ministry reduces severance payments for managers of state-owned firms

Transport Minister Ján Figeľ on February 16 reduced the ceiling for severance payments provided to managers of state-owned companies that come under the remit of his ministry while also introducing more stringent eligibility conditions, Ľubomír Tuchscher, the director of the ministry's PR department told the TASR newswire on February 21. Only managers who have served for at least six months in their posts in state-owned companies will be entitled to severance payments according to the new rules. These managers will be given a severance payment equal to three times the monthly remuneration for serving as a member of the board of directors.

Transport Minister Ján Figeľ on February 16 reduced the ceiling for severance payments provided to managers of state-owned companies that come under the remit of his ministry while also introducing more stringent eligibility conditions, Ľubomír Tuchscher, the director of the ministry's PR department told the TASR newswire on February 21.

Only managers who have served for at least six months in their posts in state-owned companies will be entitled to severance payments according to the new rules. These managers will be given a severance payment equal to three times the monthly remuneration for serving as a member of the board of directors.

"Severance payments at many state-owned companies have been excessively high and unjustified. The changes unify the rules and significantly reduce the level [of severance payments]. I view it as a display of responsible policy ... The recent negative cases mustn't be repeated," said Figeľ.

He also decided to reduce the number of members of the boards of directors of state-owned passenger rail operator ZSSK Slovensko and rail-freight company Cargo from six to three. This step is viewed as part of the recovery process for these indebted companies. Due to the changes in the rules for severance payments, board members of these companies will not be entitled to any extra money when their term of office expires.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

LGBTI people in the regions: We change people’s minds

Bratislava will dress up in rainbow colours this August again, for the seventh time. This will be for the Bratislava Dúhový Pride diversity festival. But the colours of the rainbow are less bright in the regions,…

Slovakia’s LGBTI community seeks to expand their rights.

Things that make us different also make us stronger

On August 19, a rainbow flag will fly over the US Embassy in Bratislava to represent the firm commitment of the United States to defending the human rights of LGBTI people, writes Ambassador Sterling.

The rainbow flag flew over the US Embassy in Bratislava in 2016.

Blog: 5 things you should do on your visit to the north of Slovakia Photo

Here is a list of tips by an experienced tour guide - including things you have probably not tried before.

Bratislava growing high Photo

High-rise buildings sprouting up in Bratislava

Visualisation of the future skyline of Bratislava