CenturyLink Shareholders Say No to Exec Pay as Stock Continues Dropping
With its stock at a historic low, the vote on executive compensation was two “nays” for each “yea.”
With its stock at a historic low, the vote on executive compensation was two “nays” for each “yea.”
The Oregon pension fund is suing CenturyLink to recoup losses experienced due to the company’s actions.
CenturyLink had about 50,000 employees at the end of last year.
They “can’t even throw a small bone to the employees doing the work,” wrote one Channel Partners reader.
CenturyLink now faces numerous class-action lawsuits alleging unlawful business practices.
The lawsuit accuses the telco of fraud, unfair competition and unjust enrichment.
The deal would create an enterprise telecommunications company worth more than $50 billion, including debt.
With about 43,000 employees, a 7-8 percent workforce reduction would impact more than 3,000 people.
The move impacts employees “in a variety of positions and departments.”
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