LONDON (Brand Republic) - Media and internet giant AOL Time Warner has axed its company pension scheme and cash bonus payments in favour of a stock option scheme for staff.
The move brings the company in line with the existing stock option schemes offered at AOL before the merger. Performance-related bonuses offered at the former Time Warner will also be abandoned in favour of stock options.
The company will be obliged to offer a stakeholder pension scheme under UK law to staff in the UK.
www.aoltimewarner.com