Bombardier backs off on massive raises for top execs

Bombardier is bowing to public pressure and backing off on massive 50% raises for top executives.

CEO Alain Bellemare announced last night he’s asking the board of directors to defer about half the payouts until 2020. And the outstanding compensation will only be paid if Bombradier achieves performance objectives.

About 200 angry protesters gathered at the company’s Montreal head office yesterday to denounce the hefty packages in light of the company getting hundreds of millions of taxpayers dollars.