BT bosses face no bonuses if they fail to meet standard performance targets

TELECOMS firm BT will claw back executives’ bonuses, it emerged yesterday, should they fail to meet performance targets.

The news comes after BT announced a crisis in its corporate services arm, more job losses and cut its final dividend last week.

BT’s annual report, due to be published on 27 May will outline the details of BT’s remuneration review – under which a clause is expected to be added to the contracts of senior staff which will allow BT to claim back cash bonus payments.

The updated payment plan comes in the wake of a furore over executive bonuses at blue-chip companies. Last week, Network Rail boss Iain Coucher said he would give up part of his bonus.

But last night there were unconfirmed reports that BT chief executive Ian Livingston is in line for a cash bonus of more than £680,000 this year – and could also receive the same amount in shares if he stays at the company for three years.