 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Tokyo (AFP) April 25, 2011 The operator of Japan's stricken nuclear power plant said Monday it will halve the yearly salaries of its board members as it seeks to absorb the financial hit from the ongoing atomic crisis. Tokyo Electric Power Co. (TEPCO) said it will also cancel plans to recruit 1,100 new graduates in 2012 in another cost-cutting measure as it faces the prospect of compensation payouts, repair costs and loss of profits. The company's chairman, president, vice presidents and managing directors will see their annual pay cut by 50 percent from April, while that of executive officers will drop by 40 percent, the statement said. From July, the salaries of managers will be reduced by about 25 percent and those of general employees by about 20 percent, it added. TEPCO said it hopes to save 54 billion yen (US $660 million) on its wage bill. The company said in a statement it was facing "significant deficits" as it is likely to have to pay out compensation to those affected by the world's worst nuclear emergency since Chernobyl in 1986. It also faces the cost of repairing its facilities -- although the crisis-hit Fukushima Daiichi plant is expected to close -- and said it would look at "fundamental downsizing" without sacrificing electricity supplies. "We will continue to endeavour utmost effort to handle current situation as well as conduct cost reduction in every aspect," TEPCO president Masataka Shimizu said in the statement. The earthquake and tsunami of March 11 knocked out cooling systems at the plant, triggering explosions and fires that caused radioactive smoke and water to leak into the air and sea. Tens of thousands of people in a 20 kilometre (12 mile) radius around the plant have been evacuated, leaving homes and livelihoods behind. Those within 30 kilometres were first told to stay indoors, then encouraged to also leave. On April 15 the company promised an initial one million yen ($12,000) in "provisional compensation" to each family living close to the stricken facility on orders from the Japanese government. It put the total of those payouts at about 50 billion yen but this was estimated to be only a fraction of the final costs. Trade Minister Banri Kaieda said at the time that ministers would ensure the company, which has seen its share price plummet, was held to account.
Share This Article With Planet Earth
Related Links Nuclear Power News - Nuclear Science, Nuclear Technology Powering The World in the 21st Century at Energy-Daily.com
Anti-nuclear 'die in' on Franco-German borderStrasbourg, France (AFP) April 25, 2011 Around 700 anti-nuclear protesters staged a "die in" on a bridge on the Franco-German border Monday, on the eve of the 25th anniversary of Chernobyl and after Japan's Fukushima nuclear accident. The Easter Monday demo was one of several to be staged on bridges over the Rhine around Strasbourg to mark the world's worst nuclear accident at Chernobyl in the Ukraine on April 26, 1986 as well as ... read more |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook
