MCI offers managers hefty bonuses to retain them prior to its merger

Article Abstract:

MCI is offering significant cash bonuses to hundreds of managers to retain them before the company finalizes its merger with WorldCom. An internal MCI memo outlined plans that will pay certain top-level management a bonus equal to 50% of their salaries next week, plus another 50% bonuses on Dec 1, 1998. Compensation experts characterize the offer as rare in magnitude and unusual prior to a merger's completion. MCI hopes to prevent an exodus of senior management during transition, which one observer said could jeopardize the WorldCom deal. The retention bonuses will range in scale to less than 1,000 of MCI's 55,000 staffers. Some question whether MCI and WorldCom managers can function in the same environment, after they announced forming a telecommunications company with a projected $32 billion in annual sales.

Management, Telecommunications services industry, Telecommunications industry, MCI Communications Corp., MCIC, Company Business Management

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More toasts, less sleep: the globe-trotting CEO

Article Abstract:

Honeywell Inc. does business globally. Its chairman and CEO Michael Bonsignore is the company's ambassador and deal maker/facilitator. But the global travel can be gruelling. The 57-year-old executive flies 200,000 miles a year for the company, has lived in five countries and speaks four languages. His goal for sales in Asia is to reach $1 billion by the year 2000, though he admits that could be a difficult goal to reach with the economic conditions what they are.

United States, Electronic computers, Electronic Computer Manufacturing, Computers & Auxiliary Equip, Executive changes & profiles, Officials and employees, International aspects, Behavior, Abstract, Corporate growth, Temperature measuring instruments, Honeywell Inc., HON, Bonsignore, Michael

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