Tough times for Apple, Tim Cook reduces his salary

In 2016 Apple did not reach the minimum targets regarding the number of products sold and part of the executives have had a pay cut

That it had not been an easy year for Apple was already guessed in recent months with the various news that spoke of a cut in production for the IPhone 7 and a decrease in sales for the Apple Watch 2, the smart watch that has never managed to find the consensus of users.

But now came the confirmation directly from the Cupertino company that in a press release announced the sales of 2016 and the estimates were not met. In fact, according to the forecasts Apple should have sold in 2016 products for more than 210 billion instead it stopped only (so to speak) at just under 205 billion. Five billion less caused mainly by the poor performance of its flagship device: the iPhone 7. Apple in recent years has become mainly a company that produces smartphones and the poor sales of the flagship device have affected the result.

Tim Cook cuts his salary

The failure to reach the minimum sales target has forced the company to cut the salary of its executives. The first to pay the price is Tim Cook: the company's CEO in 2016 received "only" $8.75 million (almost 8.5 million euros), including bonuses, compared to the more than 10 million earned in 2015. A drop of almost 15% that, however, did not affect only Tim Cook. In fact, other executives of the company have also received the same cut. In times of crisis even Apple does spending review.