View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
July 11, 1993

APPLE FREEZES PAY FOR ALL, CUTS TOP PAY 5%

By CBR Staff Writer

As part of the company’s wide-ranging cost-cutting efforts, Apple Computer Inc will freeze all workers’ pay indefinitely, with effect from Saturday a week ago, July 3, and has cut pay by 5% for all positions of vice-president and above, the San Jose Mercury News reported, quoting a letter sent by chief executive Michael Spindler to all the company’s employees. Apple announced on Tuesday that it would lay off 2,500 employees, with most of them to leave this month, as part of a restructuring made necessary by the continuing price wars and relentless competition in the personal computer industry.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU