Leeds council chief takes five per cent pay cut
Leeds council has this morning confirmed that chief executive Tom Riordan has agreed to take a five per cent pay cut. Guardian Leeds reported yesterday that Riordan was 'not ruling anything in or out' regarding a pay cut. Riordan, whose wage is in the lower part of the £150,000 to £200,000 pay bracket, initially said he was considering taking a wage reduction in October last year. Communities secretary Eric Pickles had advocated that council chief executives on under £200,000 a year should take a 5% wage cut and those above £200,000 should take 10%. Riordan has said that taking a reduction is 'the right thing to do' in light of council cuts which total in the region of £150 million over four years. It's understood he took the decision after speaking to his family, and not from external pressure. A council spokesman told Guardian Leeds this morning: "Mr Riordan thinks it is the right thing to do, given the current financial climate and the need to reduce spending. He has shared his intentions with the leaders of all of the political parties in Leeds. "The chief executive's intention is to take a pay cut and the decision is his entirely, made after discussion with his family. He is not responding to pressure from any quarter." The YEP has also reported the story here . Has Riordan made the right decision? Have your say in the comments section below?
Market Reactions
Price reaction data not yet calculated.
Available after full seed + reaction pipeline runs.
Similar Historical Events(3 found)
MarketReplay Insight
3 similar events found. Price reaction data will appear here after the reaction pipeline runs.