Autodesk execs take salary cuts

Chief executive Carol Bartz cuts her pay by 20 percent and trims paycheques of vice presidents by ten percent as Autodesk is affected by customer spending cutbacks

In response to an ongoing revenue crunch, drafting and graphics software maker Autodesk has cancelled pay raises and trimmed the salaries of top executives.

An Autodesk representative confirmed chief executive officer Carol Bartz has cut her salary by 20 percent and trimmed the paycheques of senior executives -- vice presidents and above -- by 10 percent, effective for the remaining two quarters of the year. In addition, no pay raises will be granted this year.

In a memo sent to employees on Friday, a week after workers returned from a company-wide shutdown for the Fourth of July week, Bartz said the measures were necessary in light of current economic conditions.

"Our confidence in Autodesk's future is undiminished, yet this year's economic realities require us to make all our decisions with extreme prudence and caution," she wrote. "We're pleased we're not losing market share to our competitors, but our overall business is significantly affected by our customers' spending cutbacks."


For all job and work-related news, or to search for a job and get information on training, go to ZDNet Jobs. If you have something to say about work and employment issues say it here at the Jobs Forum. Let the editors know what you think in the Mailroom.

Newsletters

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
See All
See All