Whacking Wages

Companies are cutting base pay, a reversal of decades of conventional management wisdom

AMD

It temporarily slashed salaries 15% for vice-presidents and above

Saks Fifth Avenue

Beginning in June, many salaried employees will take 3% to 7% pay cuts

Black & Decker

Cuts range from 10% for executives to 2.5% for salaried workers

Seagate Technology

The company trimmed salaries up to 25% in senior ranks and 10% for others

Hewlett-Packard

CEO Mark Hurd reduced his pay by 20% and cut 5% to 15% from salaries

FedEx

Among other cuts, the carrier trimmed pay 5% for salaried workers

Gymboree

It reduced senior executive pay 10% to 15% and cut staff pay up to 10%

AK Steel

All salaried workers at the Ohio steelmaker took 5% pay cuts

The New York Times

A nine-month, 5% pay cut was accompanied by 10 days of leave

Data: Companies

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