BT executives will not receive bonuses this year for financial performance after missing all its targets, but the group revealed that the executive who oversaw the division that pulled the business into a full-year loss received a £1.6m pay-off after he quit.

The UK telecommunications giant yesterday published its annual report for the year until the end of March. The document revealed that it had cancelled all pay rises, and that most of the bonuses had been cut as well.

To read this report in The Independent in full, see:
www.independent.co.uk/news/business/news/fury-at-bt-as-barrault-gets-16316m-golden-handshake-1691836.html

Also see:

Gruesome tale of BT’s crazy payday
Here comes BT with a unique contribution to the history of crazy compensation schemes. In June last year, the company was so eager to retain the services of François Barrault, head of its global services division, that it shelled out €700,00, or £554,000, as a loyalty payment. Four months later, BT was so eager to see the back of Barrault that it paid him €1.9m, or £1.6m, to go away.
www.guardian.co.uk/business/2009/may/28/nils-pratley-bt-compensation-payouts

BT under fire for chief Ian Livingston’s big bonus payout
BT came under attack yesterday when it handed its new chief executive a large bonus even though he missed all financial targets and waved off the head of its failing IT unit with a £2.85 million package.

The telecoms group, which recently announced plans to cut a further 15,000 jobs after plunging into the red, said Ian Livingston remained in line for £686,000 in bonus payouts because he had met “social and environmental” targets.
business.timesonline.co.uk/tol/business/industry_sectors/telecoms/article6375060.ece