Samsung has missed revenue and profit projections for three straight quarters, thanks to intense competition in the smartphone and tablet industry, especially at the low end of the spectrum. ZDnet says smartphone executives have returned 25-percent of their achievement bonuses.
Bonuses given semi-annually by Samsung to departments or divisions within the company that reach their targets or perform outstandingly. They are graded as either A, B, C or D. Those who are judged in the A grade can receive up to 100 percent of their monthly base pay as bonuses.
Mobile division executives were graded A for their first half performances but volunteered to downgrade them to B and receive only 75 percent of their initial incentives.
I wonder how many Microsoft executives returned a portion of their bonuses?