Caixa will pay executive bonuses if they return buildings

The payment of the benefit, of a maximum of six salaries, will depend on how effective the spending cut will be over the next fiscal year.

12/07/2020

Directors and vice-presidents of Caixa Econômica Federal could go without receiving bonuses on the performance 2021, the Broadcast learns. The payment of the benefit, of a maximum of six salaries, will depend on how effective the spending cut will be over the next fiscal year. The goal of the current administration, under the command of Pedro Guimarães, is to reduce public bank expenses by approximately R$1 billion. The cut will come mainly from the withdrawal and transfer of more than 100 owned and rented buildings.

Linking the payment of executive bonuses to the efficiency target is one of Caixa’s proposals in its 2021 Annual Variable Compensation (RVA) program, according to sources. The document must be delivered to the Secretariat for Coordination and Governance of State-owned Enterprises (Sest), linked to the Ministry of Economy and responsible for evaluating and endorsing state-owned programs. The deadline for presenting their plans for 2021 is December 30.

Read the full story (in Portuguese).

Source: Estadão

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