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Apple Cuts Tim Cook’s Salary, Cites Weak Performance

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Apple’s CEO Tim Cook and other Apple executives took pay cuts in 2016, as a result of the firm missing the mark on its profit and revenue goals for the year.

Apple reported a yearly revenue of $215.6 billion, 3.7 percent below its 2016 target of $223.6 billion. The company’s operating income, which is earnings before interest and taxes, was 0.5 percent short of its target. The firm reported its first revenue decline in 15 years last October. – READ MORE

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