Qwest's CEO Got a Raise Amid Layoffs Last Year
Qwest Communications International Incorporated chief executive officer and chairman Edward Mueller was among the lucky few to get a raise in 2009. His pay increased by five percent, to $12 million last year, according to The Associated Press, despite a weakened economy marked by deteriorating demand for telephone land lines. He also received the raise, a calculation based on a regulatory filing, despite cuts to about 2,800 Qwest jobs, roughly 8.5 percent of the Denver-based company's workforce. Meanwhile, although Qwest uses online social networking, such as Facebook and Twitter, as a marketing tool, it prohibits employees from accessing the sites while in the office, reports the Highlands Ranch Herald. Yet, efforts to cut down on cyberslacking have been hampered by cell phones that allow people to access the Internet. As for Qwest's stock, it jumped 1.55 percent to $5.25 after briefly hitting a new 52-week high yesterday at $5.32. In the last six months, the stock is up over 46 percent (via news release).
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