Tuesday, July 17, 2012

Juan Carlos takes a pay cut

King Juan Carlos has decided to take a 7.1% pay cut, according to El Mundo, which also reports that the Prince of Asturias will also seek the same cut.  In fact, the cut will be applied to all the members of the Royal House.

The king's new annual salary will be 272,752 Euros.  The Prime Minister has also announced that he will reduce his annual salary.  The Prince of Asturias will see a cut of 10,000 Euros.  His new salary will be 136,376 Euros.

A further amount of $375,000 Euros will be shared equally by Queen Sofia, the Princess of Asturias and Infantas Elena and Cristina.

The royal house's public employees will also forgo the annual Christmas bonuses as will other public employees in Spain.  (Christmas bonuses are rare here in the United States.   I have been working full time since 1976 when I received my BA -- with a break while getting my master's in library science in the early 1980s --and I have never worked for a company, private or public, where employees have received Christmas bonuses.   When I worked for CNN in the early 90s, the only bonus given was the year we received a nice Turner/CNN picnic blanket.  Still have it.)



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