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BT Freezes Pay

4:25 PM -- BT Group plc (NYSE: BT; London: BTA) has frozen the pay of all its staff, but may still pay some performance bonuses to managers and senior executives, according to this report from The Guardian.

BT told staff it was "not a decision we have taken lightly," but unions representing staff described the decision as "wholly unacceptable."

BT has had some financial issues of late, and is now facing some potential problems related to its pension fund. (See BT Sticks With Plan A and BT Reports Q3.)

— Ray Le Maistre, International News Editor, Light Reading

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