No pay hikes for BT employees
London, Mar 13: Hit by global recession the British Telecom (BT) group frozen salary hikes for its 1,00,000 employees in Britain. It will decide on whether to pay bonuses for senior executives later.
However a media report states that BT chief executive Ian Livingston might make over 6 million pounds bonuses this year, if the performance targets are met. This is additional to his basic salary of 8,50,000 pounds.
In 2008 BT has decided to cut 10,000 jobs after profits fell by 80 pc to about 113 million pounds in the three-month ended Dec 31.