UK telco cuts CEO's pay by â¹33 crore over accounting scandal
UK-based BT has cut its CEO Gavin Patterson's pay package by $5 million (â¹33 crore) after it scrapped bonus payments following the $684 million accounting scandal at its Italian operations. The telco also announced plans to cut 4,000 jobs, which will save it $387 million. BT was fined $53 million, the largest fine imposed on a telco, over the scandal.