86 626
Fashion Jobs
MACY'S
Retail Fulfillment Associate, University Park Mall - Part Time
Permanent · MISHAWAKA
MACY'S
Asset Protection Captain, Interstate - Full Time
Permanent · RAMSEY
MACY'S
Retail Fulfillment Associate, Ventura Pacific View - Part Time
Permanent · VENTURA
MACY'S
Asset Protection Detective, South Beach - Full Time
Permanent · MIAMI BEACH
MACY'S
Asset Protection Security Guard, Garden State Park - Full Time
Permanent · CHERRY HILL
MACY'S
Retail Fulfillment Associate, White Oaks - Part Time
Permanent · SPRINGFIELD
MACY'S
Retail Fulfillment Associate, Galleria at Pittsburgh Mills - Part Time
Permanent · TARENTUM
MACY'S
Asset Protection Captain, Orland Square - Full Time
Permanent · ORLAND PARK
MACY'S
Asset Protection Security Guard, Queens Center - Part Time
Permanent · NEW YORK
MACY'S
Retail Fulfillment Associate, Village at Fairview - Part Time
Permanent · FAIRVIEW
MACY'S
Asset Protection Detective, Marley Station - Part Time
Permanent · GLEN BURNIE
MACY'S
Asset Protection Security Guard, Broadcasting Square - Part Time
Permanent · WYOMISSING
MACY'S
Asset Protection Security Guard, Winter Garden Village - Part Time
Permanent · WINTER GARDEN
MACY'S
Manager, Asset Protection
Permanent · SPRINGFIELD
MACY'S
Asset Protection Security Guard, Centerton Square - Part Time
Permanent · MOUNT LAUREL TOWNSHIP
MACY'S
Retail Fulfillment Associate, Westland - Part Time
Permanent · HIALEAH
MACY'S
Asset Protection Security Guard, Bloomingdale Court - Part Time
Permanent · BLOOMINGDALE
MACY'S
Retail Fulfillment Associate, Cumberland Mall - Full Time
Permanent · ATLANTA
MACY'S
Asset Protection Security Guard, Broadcasting Square - Full Time
Permanent · WYOMISSING
MACY'S
Retail Fulfillment Associate, Riverpark - Part Time
Permanent · FRESNO
MACY'S
Retail Fulfillment Associate, Shoppes at Buckland Hills - Part Time
Permanent · MANCHESTER
MACY'S
Retail Fulfillment Associate, Empire - Part Time
Permanent · SIOUX FALLS
By
AFP
Published
Apr 12, 2020
Download
Download the article
Print
Text size

Kering's Pinault gives up part of salary over virus

By
AFP
Published
Apr 12, 2020

Francois-Henri Pinault, the head of French luxury group Kering, has agreed to give up a quarter of his fixed wages for the rest of the year and the entirety of his variable compensation for 2020, the company said Friday.


Balenciaga - Fall-Winter2020 - Womenswear - Paris - © PixelFormula


The luxury group which includes labels such as Gucci, Saint Laurent, Balenciaga and Bottega Veneta in its stable, put the move down to "the current context of the Covid-19 pandemic and its impact on economic activity".

While the luxury sector largely bucked a slowdown in global growth last year due to the China-US trade war, the closure of non-essential shops by many governments to stem the spread of Covid-19 has disrupted their business badly.

Pinault's fixed wages have been set at 1.2 million euros annually since 2017.

As for what he would have received in variable remuneration, it depends on the company's performance, but he is set to receive 947,000 euros for last year after 1.9 million euros in 2018.

Last month Kering said it expected a drop of 13-14 percent in sales in the first three months of the year, when China, a key market, imposed a massive lockdown which it is only now easing.

Pinault is the latest in a series of executives worldwide to reduce their compensation as many firms have been forced to furlough staff to cut other costs to survive the crisis.

Copyright © 2024 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.