Acxiom has announced that 1,973 associates – or 36%of those eligible – have elected to participate in a unique program of pay cuts in exchange for stock options.
Acxiom company leader Charles D. Morgan said voluntary pay cuts combined with previous mandatory pay cuts means an estimated $23 million reduction in payroll levels.
“When an Acxiom associate voluntarily says, ‘Cut my pay and give me a stake in the company’s future,’ that is the ultimate vote of confidence from the very people who best know this company, its customers, and its products,” Morgan said.
On average, participants in the program volunteered to have more than 5% cut from their pay in exchange for stock options; this amount was on top of a mandatory 5% cut.
About Acxiom Corporation
Acxiom provides customer data integration software, database management services, and premier customer data content through its AbiliTec, Solvitur and InfoBase products. Founded in 1969, the company is based in Little Rock, Arkansas, with locations throughout the United States and with operations in the United Kingdom, France, Spain and Australia. Revenues were $1.06 billion for the 12 months ended December 31, 2000.