FNV finds proposed ASML remuneration policy unacceptable

ASML, green power
The ASML building, where FNV organised a protest 'walk-out', for ASML staff on April 21

ASML will present its new remuneration policy to its shareholders on Friday. According to the Federation of the Dutch Trade Unions (FNV), the new scheme, if accepted, will create an unacceptable level of inequality. 

With the new reward system, the bonus that the top executives receive will be even higher than it already was. This will be in addition to the standard salary increase, in the form of both money and shares.

The FNV points out that with the new bonus system, the top can earn fifty times more than the employees at the bottom of the wage structure. The union argues that the remuneration of top managers should be more in line with the pay ratio of the collectively agreed staff. “Invest in personnel, but not in the already overflowing cash safe at the top,” the union said.

The bonus scheme comes at a time when ASML is at its peak. The demand for the chip machines of the Veldhoven company is so great that ASML cannot keep up with the demand. In order to increase production capacity, the company wants to expand considerably in the years to come.

Source: Studio040

Translator: Seetha

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