Randall Stephenson, the current CEO of At&t has decided to forgo his bonus for this year, and has put a freeze on the managers salary for this year. That means during 2009 120,000 employees will not be getting a pay increase. This comes at a time when At&t has announced the cutting of 12,000 jobs. Stephenson should be applauded for ushering in a new era of corporate responsibility. Stephenson's bonus in 2007 was $4.5 Million for a half year of performance. There were also several Million dollars more in stock bonuses and perks. The earnings outlook for At&t is still looking positive, but like other companies in the telecom sector At&t needs to be positioned to maintain their place during this downed economy. I think he has made a very smart desicion.
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