US plans bail-out firm pay cut

The US says firms that benefited from government bail-out cash will be required to slash salaries for their highest paid executives.



The seven companies that received the most aid from the US Treasury will have to reduce the basic salaries of their 25 best-paid employees by up to 90 percent.



The totals paid to each firm\'s 125 top earners will be halved under the plan.



Details of the plans were confirmed ahead of schedule by Elizabeth Warren, who heads the oversight panel.



The US government is expected to announce the salary cuts for top executives within the next few days.