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Bombardier unable to shake public anger over executive pay hikes

People hold up signs during a demonstration outside Bombardier's head office in Montreal, on April 2, 2017, to protest recent pay hikes and bonuses to the company's top executives.


Bombardier appears unable to shake off public anger over hefty pay packages to its senior executives.

Protesters gathered outside Premier Philippe Couillard's Montreal offices on Sunday to protest how the executives are compensated.

Earlier, several dozen protesters waved signs and shouted slogans during a march that began in front of the company's headquarters.

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The protesters want the Quebec government to impose conditions on companies that receive public money to ensure jobs are protected and executive bonuses are limited.

Bombardier has faced a storm of public criticism ever since it circulated documents showing six executives were in line for a roughly 50 per cent increase in compensation last year.

The increases came despite the fact the company recently received a $372.5-million loan from the federal government, and US$1-billion from the Quebec government.

Chief executive Alain Bellemare has since asked the company's board of directors to delay payment of more than half of last year's total planned compensation for six executives, including himself, to 2020, provided the company meets certain objectives.

Bombardier has said it will formally inform shareholders on Monday about changes to the compensation for several of its top executives when it files a new proxy circular with the securities regulator.

Protesters also gathered in front of Bombardier's headquarters last weekend to vent their anger about the company's pay policies.

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