New Delhi, Oct. 24 -- ASML CEO Christophe Fouquet is tying executive pay to employee happiness as the Dutch chipmaking giant tries to lift staff morale after a major shake-up. The move means how employees feel about their jobs will now play a role in determining how much the company's top executives get paid.

In a memo to employees, reported by Business Insider, Fouquet said ASML would make staff feedback a factor in deciding bonuses and other long-term rewards for its top executives. Acknowledging that the past year had been difficult and emotionally draining for employees, he said improving the workplace and rebuilding the company's culture would be a personal priority.

ASML's annual employee survey, which received responses from more...