The 2008 annual report identified Mr Bongard as earning nearly $1.2 million a year for his work as managing director and chief executive.
Yesterday, the company announced a significant profit downgrade and debt increase.
As part of the efforts to cut costs, Mr Bongard takes a salary cut of 7.5%. The pay of executive staff is cut by 5%.
The annual report showed 21 staff were earning $300,000 or more in 2008. It did not say how many of them were regarded as "executives".
Three hundred and fifty-six employees earned $100,000 or more a year in 2008.
FPA said it was finalising a scheme with all salaried employees whereby they would take one rostered day off a month.
They would have the option to substitute that day with annual leave, ensuring continuity of income.
The initiatives were over and above the ongoing "cost-down" programmes currently operating within the New Zealand business, the company said.
