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Acxiom cuts salaries of employees in U.S.

Acxiom Corp. told employees last week that it will be instituting pay cuts for its U.S. employees starting July 1.

Employees making less than $35,000 will not receive a pay cut. Employees who earn between $35,000 and $100,000 will see a 3 percent cut in pay. Employees making between $100,000 and $200,000 will experience a 5 percent reduction in pay. Employees earning $200,000 to $500,000 will receive a 7.5 percent pay cut. Employees making more than $500,000 will see a 10 percent reduction.

The company would not disclose how much it will save from the cost-cutting measure.

Acxiom also will suspend 401(k) matching and will no longer be offering an employee discount stock purchase plan. The company also suspended the company match for its senior investment retirement plan.
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Publication:Arkansas Business
Date:Jun 29, 2009
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