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Machinery


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March 16, 2009

Black & Decker to cut salaries to shave costs

TOWSON, Md. (AP) — The Black & Decker Corp. said Friday it's cutting the base salaries of top executives and ending contributions to retirement programs because “unprecedented challenges of the global economy” have cut into its revenue.

The power tool maker said in a regulatory filing that it's also cutting base salaries for other workers by between 2.5 and 5 percent.


 
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