AT&T CHIEF GIVES UP BONUS AS MANAGERS GET PAY FREEZE

摘要

AT&T CEO Randall Stephenson won't take his 2008 bonus for his 2008 performance, and as many as 120,000 managers at the company won't receive salary raises during 2009, an AT&T spokesman said. He said the bonus generally accounts for more than 25 percent of Stephenson's compensation. The bonus was $4.5 million in 2007, according to SEC filings. Though AT&T had solid Q4 earnings, the carrier is cautious and expects the difficult economy to continue through 2009, the spokesman said. It's cutting 12,000 jobs.