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Thursday, June 25, 2009

The pay cut for CBS chief Les Moonves – 76%

CBS has been hit by the extraordinary hard times in radio and the media, like all other broadcasting operations. Crain’s New York reports that last year’s take-home pay for CBS CEO Leslie Moonves was not immune. His 76% reduction ranked as the second-worst company CEO pay cut in the past year. However, Moonves will not be reduced to poverty status. According to Crain’s, “Mr. Moonves took home an ample $13.6 million, meaning he got paid more than all but 29 other New York CEOs.” In the last 12 months, CBS cut 2,000 jobs and their once-strong stock price plummeted by over 64%.

Tags: CBS

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