Goldman’s Solomon joins CEOs taking pay cuts after laying off thousands

Six in ten executives have taken a pay cut to minimize layoffs in the past six months – “It’s a tremendous message from leadership to say, ‘This is going to hurt, and it’s going to hurt me as well’,” says consulting firm Gartner’s Tony Guadagni.
Photo: Lucas Jackson/Reuters/Ritzau Scanpix
Photo: Lucas Jackson/Reuters/Ritzau Scanpix
BY Jo Constantz, Bloomberg

As layoffs at technology and finance companies in the US have piled up, their executives have talked at length about the need to cut costs in a challenging economic environment. At some of the biggest firms, the same austerity measures are also being applied in the C-suite. 

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