Today's Hard|Forum Post
Today's Hard|Forum Post

Thursday October 18, 2012

ZTE Execs Halve Pay Until Profits Return

Top executives with China’s ZTE have ‘voluntarily’ accepted a 50% pay cut until the company gets on firmer financial ground. The company has been experiencing sluggish global sales resulting in a 260% drop in corporate profits.

The proposed cuts, suggested back in August, were apparently only to take effect with full consent of all those involved.