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Sony executives give up performance bonuses
Sony said Tuesday that seven senior executives, including its new chief, will not receive bonuses tied to its latest annual results, which saw the troubled firm post a record $5.8 billion loss. Former chief executive Howard Stringer and his successor Kazuo Hirai are among those who will not be paid performance-linked bonuses, but a company spokesman declined to specify…
Yahoo! lays off 2,000 employees in ‘restructuring’ effort
Struggling US Internet firm Yahoo! said Wednesday it would slash some 2,000 jobs in a sweeping restructuring aimed at building a “smaller, nimbler, more profitable” company. Yahoo! chief executive Scott Thompson, who took the top job in January promising urgent action to turn the company around after a year of…
McDonald’s names first African-American CEO
Jim Skinner, the McDonald’s chief executive who started at the firm as a management trainee in 1971 and went on to become one of its most successful leaders, has announced his retirement. Skinner, 67, has led the fast-food company for eight years. He will step down on 30 June, McDonald’s…
British cabinet member complains about ‘anti-business culture’
Chancellor of the Exchequer George Osborne has vowed to fight an “anti-business culture” in Britain, warning that a row over executive pay and bonuses threatens the country’s fragile economic recovery. “Let me say something about the row over bonuses and pay,” Osborne said in a speech to the Federation of…
Yahoo! chairman, three directors stepping down
Yahoo! chairman Roy Bostock announced Tuesday he was stepping down from the board of the struggling Internet company along with three other directors. Bostock, in a letter to shareholders, also said Yahoo! was in “active discussions” with its partners in Asia on restructuring its holdings in the Alibaba Group and…
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