On January 21, 2014 IBM announced that company executives would forgo bonuses for fiscal year 2013. The move came as the firm reported a 5% drop in sales and 1% decline in net profit over 2012. It also committed to a $1.2bn plus expansion of its data center and cloud-storage business, including the development of 15 new data centers. After ten successive quarters of flat or sliding sales under Chief Executive Virginia Rometty IBM is being forced to look at new approaches. Said Rometty, “We’ve got to reinvent ourselves like we’ve done in prior generations.”
What date did IBM announce that its executives would forgo bonuses for fiscal year 2013?
January 21, 2014