Despite Profit Decrease, Reuters Hands Out Big Executive Bonuses
SPECIAL REPORT
LONDON--Despite a decrease in profits of seven per cent in 1998, Reuters handed out executive bonuses worth £1.04 million ($1.69 million).
The bonus payments are equivalent to 49 per cent of the executive directors' salaries, which totaled £2.11 million ($3.44 million). The bonus payments came close to the bonus cap of 50 per cent of basic salaries which was set in 1998.
Reuters did not pay out any bonuses in 1997 due to not meeting set targets and defends 1998 payments by attributing the profit
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