Motorola CEOs Take Pay Cut

Motorola obviously isn’t enjoying the current financial crisis, and it’s doing what it can to try and weather the storm. Next up on the list of cost cutting would be to reduce the amount paid to co-CEOs Greg Brown and Sanjay Jha, both of whom will “voluntarily” get 25 percent pay cuts in 2009. Brown will also miss his 2008 bonus. Jha will have his bonus reduced by the amount of Brown’s forfeited bonus, and take the balance as restricted-sale stock instead of cash. Times are hard, it’s certainly not the best of times for everybody, and it remains to be seen which companies will still be standing after this economic crisis blows over.