Bank of China Ltd , China's fourth-largest lender by assets, has launched a countrywide exercise to reduce the salary gaps among its employees and mid- and high-level managers in response to Beijing's "common prosperity" drive, three sources with knowledge of the matter said.
Why do pay cuts for managers instead of pay raises for other employees? How is a cut helping anyone?
Did you even read the article? The article says the plan includes raises for the lower and middle paid employees that is being paid for by cuts to the upper executives. So they’re doing exactly what you proposed