Amazon’s board may follow the example of many other tech companies moving to cut staff and reduce salaries of their CEO. After all, Apple drew headlines last week when it announced a 40% cut in CEO’s Tim Cook pay for this year, an action which was in response to shareholder demand.
The shareholders of other big tech companies have also voiced objections to executive compensation paid out last year, making it easy for consultants to predict that more tech companies will likely follow Apple and cut executive compensation. The Information quotes Aalap Shah, a managing director at compensation consultancy Pearl Meyer, who said that the “vast majority of [his] clients in the tech industry are planning to cut their executives’ pay this year by giving them smaller equity packages.”