pay cut

As part of its efforts to reduce its labor costs, Walmart plans to stop paying its staff an extra $1 an hour for working Sundays starting in 2011, according to Bloomberg. The move won't affect the retailer's 1.4 million current U.S. employees, only those hired after Jan. 1.

Wall Street "pay czar" Kenneth Feinberg will ask several financial firms to strengthen so-called clawback provisions, but will not force them to recover bonuses paid at the height of the financial crisis, CNBC reported. Clawback provisions allow companies to reclaim compensation given to...

The Obama administration plans to order companies that received huge U.S. government bailouts last year to sharply cut the compensation of their highest paid executives, according to a person familiar with the decision. The seven companies that received the most assistance will have to cut the...

As if the workplace hasn't been interesting enough at the Boston Globe, which had threatened to close, its employees now face the double death watch of having their salaries cut by 23% as their paper is put up for sale.The New York Times Co. has hired an investment bank to sell the Boston Globe, a...

There's more to life than layoffs --there are also pay freezes and wage cuts. Indeed, the number of companies cutting salaries or implementing freezes has doubled since January of this year, according to a new report by Challenger, Gray & Christmas, Inc. Playing with pay is hardly surprising in...

As more companies are requiring workers to take unpaid time off, sometimes for a week or two of unpaid vacation, some workers with "furlough envy" are asking how they can get in on that deal. Granted, these are mostly executives who can afford a week or more of unpaid leave, and they're happy to...