Apple Cuts Tim Cook’s Salary, Cites Weak Performance
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