{"id":52596,"date":"2014-02-01T06:08:23","date_gmt":"2014-02-01T04:08:23","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=52596"},"modified":"2014-02-01T06:08:23","modified_gmt":"2014-02-01T04:08:23","slug":"ibm-ceo-other-execs-give-up-bonuses","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/52596\/ibm-ceo-other-execs-give-up-bonuses\/","title":{"rendered":"IBM CEO, other execs give up bonuses"},"content":{"rendered":"

IBM CEO Virginia Rometty and the rest of her senior management team are relinquishing their 2013 bonuses as penance for the technology company’s lackluster performance last year.<\/p>\n

The decision disclosed in a Friday regulatory filing will result in a substantial pay cut for the affected executives, whose annual bonuses often exceed their salaries.<\/p>\n

As CEO, Rometty will be the hardest hit. She received a $3.9 million bonus in 2012 and was eligible for a $4 million payout last year, although it’s unlikely she would have received that much because IBM’s financial results didn’t live up to expectations.<\/p>\n

IBM’s revenue slipped 5 percent last year. The Armonk, New York, company’s earnings dipped by less than 1 percent, thanks to cost cutting.<\/p>\n

Rometty still received a $1.5 million salary last year.<\/p>\n

More on IBM<\/h3>\n

IBM expands mobile strategy<\/a><\/strong><\/p>\n

IBM tops US patent list<\/a><\/strong><\/p>\n

IBM outlook upbeat after strong quarter<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

IBM CEO Virginia Rometty and the rest of her senior management team are relinquishing their 2013 bonuses<\/p>\n","protected":false},"author":6,"featured_media":10142,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[25,753],"class_list":["post-52596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-active","tag-ibm"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/52596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=52596"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/52596\/revisions"}],"predecessor-version":[{"id":52598,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/52596\/revisions\/52598"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/10142"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=52596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=52596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=52596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}