That's right. But: Gevaert bears the costs of a huge retirement fund since years, caused by the retirement conditions that are considered as a given right to the employees. But infact, these conditions are the product of a kind of agreement between employer and employee (syndicat) that is negotiated regulary (this is called a 'CAO' or collectieve arbeidsovereenkomst, some kind of social agreement). The continuous threat for strikes during such negotiations is the major cause for the fact that the company didn't change the retirement conditions in all these years. Today, the continuation of that system has become a danger for the future of the company and for the guarantee of employment for the yonger generation.
Originally Posted by Athiril
The possibly huge wages of a CEO are hardly a counterweight for the impact of this retirement fund.