Apple cuts Tim Cook's pay by 15 percent after decline in revenue - WDRB 41 Louisville News

Apple cuts Tim Cook's pay by 15 percent after decline in revenue

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LOUISVILLE, Ky. (WDRB) -- A sales slump means a pay cut for Apple's CEO.

According to a filing released Friday, the maker of the iPhone cut Tim Cook's total pay by about 15 percent last year. That means Cook got $8.7 million compared to more than $10 million in 2015.

Decreasing iPhone sales caused the tech giant to suffer its first annual revenue decline in 15 years. Apple's board is holding Cook and other leaders accountable.

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