Hundreds of companies across all industries and around the world have announced in recent days drastic cuts to the salaries of their senior executives as one way to reduce the unprecedented financial blow caused by the coronavirus pandemic. Some executives are even foregoing salaries to help their employees. Pearl Meyer, an executive compensation consulting firm, is in the process of conducting a broader survey on this topic, and its preliminary results have found more than half of companies among its more than 300 respondents have adjusted executive salaries in 2020.
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