Following on the heels of an earnings warning issued late Friday, Acxiom Corp. announced Tuesday that its employees had their base pay cut 5%, with an option to take a 20% pay cut and receive stock options. The move is part of a $70 million cutback on anticipated fiscal year 2002 expenditures, which will also include sales and marketing expense reductions.
The Little Rock, AR-based company also revised its estimate of the write-offs related to Montgomery Ward
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