The unions have got the message that Philips Electronics NV is in a struggle for survival: the company says its 42,000 employees in the Netherlands approved a wage plan that hold them to a 3.5% pay increase for 1993 with only 1% to 1.5% above this for merit rises: Philips normally pays its employees a […]
The unions have got the message that Philips Electronics NV is in a struggle for survival: the company says its 42,000 employees in the Netherlands approved a wage plan that hold them to a 3.5% pay increase for 1993 with only 1% to 1.5% above this for merit rises: Philips normally pays its employees a lump sum of 8% of annual salary once a year, but this year will pay only 4%, with the balance to be paid in 1994 and 1995, always assuming that it can afford it then.
