Motorola has given its chairman and chief executive a public reprimand for his poor performance.
The firm said it had denied bonuses and salary increases to Christopher Galvin because the company's financial performance had not been good.
Motorola had four straight quarterly losses last year and suffered its first annual loss since the 1930s. It added that Galvin has not had a pay increase since 1999.
But shareholders should not cry too much for Galvin: he still got to take home his salary of $1.275m (£886,430) last year. In 2000 he received more than $1.25m (£869,000) in bonuses.
He also received more than 900,000 stock options in 2001, all this when the company reported an operating loss of $697m (£484.5m) compared with a profit of $2bn (£1.39bn) in 2000.
To remedy the situation Motorola cut 29,500 workers last year and carried out a restructuring of its manufacturing operations.
The company says it expects to be profitable this year as a result of saving more than $3bn (£2.1bn) as a result of the restructuring.
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