Baltimore Technologies has confirmed that senior management wages are to be cut to "more closely reflect the company’s performance".
In a statement, the company announced that its recently appointed Chief Executive Mr Bijan Khezri's salary has been cut to £150,000 and that he has also agreed to waive any entitlement to a bonus in the current financial year,
The Chairman Mr Peter Morgan's salary has also been cut to £40,000 from £90,000 while non-executive directors will now receive £18,000 - down from £25,000.
This follows last August’s job cuts in which 600 people lost their jobs - 30 of them in Dublin - and further cuts last May in which 250 jobs were last at its Dublin headquarters.
The job and wage cuts reflect the announcement in July of first-half results of £39.4 million sterling, with losses before interest tax depreciation, amortisation and exceptional items of £41.6 million.
The company also had a £503.8 million write-off following a write-down of acquisitions and amortisation charges.
The wage cuts will be formally put to Baltimore’s shareholders at next April’s a.g.m.
