Crisis-Hit Tokyo Electric to Cut Top Exec Pay by Half

Tokyo Electric Power said it would cut the total compensation of its president, chairman and other top executives by half as it grapples with the world's worst nuclear crisis in 25 years at its Fukushima Daiichi plant.

The company, which is seeking government help to foot a massive bill to compensate local citizens and businesses surrounding the plant, said it would also cut the annual salary of general staff by 20 percent.