Senior Carillion staff were given a raise to halt a mass exodus with the firm on the brink
Collapsed outsourcer Carillion gave its top staff a pay rise as it headed for oblivion, it has emerged.
Senior managers just below director level were given a raise to halt a mass exodus when the writing was on the wall, MPs said.
Meanwhile, interim chief executive Keith Cochrane secured an annual pay cheque of £750,000 a year – higher than his predecessor’s base salary.
Critics took aim at bosses’ contracts, which make it difficult to claw back their bonuses for any wrongdoing.
Frank Field, chairman of the Commons work and pensions select committee, said: ‘It’s greed on stilts, pure and simple.’
Carillion went bust in January, putting more than 33,000 jobs at risk.
Many smaller businesses in its supply chain have been badly hit by its demise.
The first casualty looks likely to be the family company Vaughan Engineering, which has 500 staff and is said to be about to call in administrators.