IBM has announced that it will not increase the salaries of its top 50 executives until business picks up at the world’s biggest computer company.
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The announcement was made at a shareholder meeting earlier this week, and comes after IBM reported poorer than expected quarterly results.
IBM is seeing less business in markets such as Japan and some European countries, and its services business is not clinching the deals it needs to boost performance.
One shareholder’s proposal that IBM should think again about outsourcing jobs offshore to the likes of India was heavily defeated at the meeting by fellow shareholders.
