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Frozen salaries for corporate management in 2009
Veidekke is a major employer with a total of 5 858 employees in Scandinavia. We pay out BNOK 2.9 per year in salary: BNOK 2.3 in Norway, MNOK 370 in Sweden and MNOK 281 in Denmark. Most companies in Veidekke have pension plans for their employees in addition to obligatory plans imposed by the authorities. Most of these schemes are financed by funds accumulated in life insurance companies; others are paid from operations. Total pension costs in the Group were about MNOK 265 in 2009. As part of the Group's benefit package, we also offer our employees various insurance schemes.
In Veidekke, we believe that value must be created before it can be shared. In light of the troubled economic times, we decided early in 2009 to only pay bonuses to executives who delivered in accordance with their performance goals. They were awarded their share of the value created. At the same time, neither the President and CEO, nor the rest of the management team received a pay raise or bonus plan for 2009.