The Canadian Press – Jun 7, 2021 / 12:42 pm | Story: 336225
Photo: The Canadian Press
The tail of the newly revealed Air Canada Boeing 787-8 Dreamliner aircraft is seen at a hangar at the Toronto Pearson International Airport in Mississauga, Ont., Thursday, February 9, 2017. THE CANADIAN PRESS/Mark Blinch
An economist says the recent decision by Air Canada executives to voluntarily give back their bonuses is an incredibly rare case of an about-face on compensation from a company.
David Macdonald, a senior economist with the Canadian Centre for Policy Alternatives, says it’s unusual for public outcry to be successful in nudging C-Suite employees to return their bonuses.
The airline announced yesterday its president and CEO, as well as its executive vice-presidents, had volunteered to return their 2020 bonuses and share appreciation units after “public disappointment” grew over its compensation program.
It says former president and CEO Calin Rovinescu, who retired in…