Big bonuses for AbitibiBowater executives

AbitibiBowater is defending the $6 million in combined bonuses they are paying their executives while they work on restructuring the company.

AbitibiBowater CEO David Paterson has pointed out that incentives are needed to attract and retain their management ranks.

The $6 million will be distributed among 50 senior managers and executives that have been deemed critical to the company's profitability and reorganization of AbitibiBowater.

The Federation of Paper and Forestry Workers are urging AbitibiBowater to withdraw these bonuses from the restructuring plan before creditors vote on the reorganization plan on September 14th.

Source:

AbitibiBowater defends bonuses for execs (CBC)