The cuts meant two of the company’s top brass had compensation packages of more than $1m in 2014, compared with four in the previous year.
Chief executive Mats Berglund remained the top earner at Pac Basin but his package was down from $2.389m to $1.649m year-on-year.
Berglund’s salary was up slightly to $1.046m but his bonus of $63,000 compared with $650,000 in the previous year, according to the shipowner’s annual report released today.
