Oilfield Services Provider Carbo Ceramics' Executives To Take Pay Cut



Reuters

April 11 (Reuters) - Oilfield services provider Carbo Ceramics Inc said its executives would take a 10-30 percent cut in their monthly cash compensation as the company looks to slash costs.

The company, which makes ceramic balls used to keep the cracks in fractured shale rock open, said on Monday the cut would be through voluntary participation by executives in furloughs, unpaid time off and leaves.

Carbo Ceramics, however, said it had not amended the employment contracts of its chief executive and other executives.

A Reuters analysis of filings through mid-March showed that a number of companies had changed their payout plans for executives amid the collapse in oil prices.

(Reporting by Arathy S Nair in Bengaluru; Editing by Kirti Pandey)



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

RELATED COMPANIES