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Apple's Downturn Leads to a Slump in Tim Cook's Salary

  • Apple's first sales slump in 15 years took a toll on salary of CEO Tim Cook. As per media reports, the company has penalized cook with a whopping 15 percent pay cut. Despite this enormous pay cut, Cook took home a compensation package that totaled $8.7 million for the leading firm's fiscal year that ended on September 24, 2016. Nevertheless, as compared to last year, the CEO's pay witnessed a plunge of nearly $10.3 million. The company says that the pay cut of Cook as well as other senior executives was undertaken due to a downturn in the revenues of the company as well as the operating profits.