CALFRAC cuts executive/director compensation

[avb3]

They are cutting executive compensation by 10 percent and directors compensation by 20%. Those are significant cuts and I am sure they will also filter down to other employees.

http://www.edmontonjournal.com/touch/business/energy-resources/Fracking+firm+cutting+budget+plus+director/10841852/story.html?rel=1662629

[Scott N]

Calfrac is one of our customers.... they've already laid off quite a few people by the sounds of things.

[Okotokian]

Given much of an executive's pay is "at risk" (bonuses, stock plans, etc.) any significant downturn in the company's fortunes is going to be (or should be) reflected in their pay packages.