At Deadline.(Sears Holdings changed its executive severance policy)(Microsoft CEO Steven Ballmer leaves Accenture's board)(United airlines)(Brief Article)

Crain's Chicago Business, January, 2006

Sears cuts laid-off executives' pay Sears Holdings changed its executive severance policy late last year, according to a quarterly SEC filing. The policy, approved by Sears' board on Nov. 8, says executives will receive severance equal to one year of base salary and bonus. The payments will be reduced on a "dollar-for-dollar basis'' if the executive takes another job.

Previous severance terms weren't disclosed. Sears has eliminated 1,500 jobs at its Hoffman Estates headquarters since Kmart bought it in March. Sandra Jones Microsoft CEO leaving board of Accenture Microsoft CEO Steven Ballmer is leaving Accenture's board when his term expires on Feb. 1, a recent SEC filing says. He joined in October 2001. He won't seek another term because of other...

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