Two top executives at papermaker split $4 million
Posted Nov 19, 2011 08:47:57 AM.
This article is more than 5 years old.
It’s been revealed the former president and CEO as well as the former CFO of AbitibiBowater received $4 million between them in severance packages this year for their roles in restructuring the company.
AbitibiBowater is now Resolute Forest Products, the majority owner of the financially troubled Bowater Mersey mill in Queens County.
Courtney Wentzell, one of the presidents of a local union that represents workers at the mill, tells the Chronicle Herald the severances are, “disgusting, they’re gross”
Bowater Mersey has said it will offer 80 severance packages to employees in an effort to cut costs equal to one and half weeks pay for each year they worked there.
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