Micron Technology
has suspended bonuses for executives, and the stock earned an upgrade, though the two don’t appear to be connected.
Micron (ticker: MU) said late Thursday a board committee had approved plans to cut certain executives’ salaries and suspended all executive bonuses in the fiscal year 2023. CEO Sanjay Mehrotra’s pay will be cut by 20%, according to a regulatory filing. The company is also cutting its workforce by 10%, it said in December.
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