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Apple to cut execs' pay 10 percent

Apple Computer Inc. may reduce its executives' pay 10 percent, a move analysts said Friday would assuage workers upset over layoffs that are part of a broad cost-cutting plan. Apple's five highest-paid executives together earned $9.9-million in salary and bonuses last year, including $2.2-million for the company's chairman and chief executive, John Sculley. Sculley was the second-highest-paid executive in the nation last year, according to one survey.

Apple spokeswoman Cindy McCaffrey conceded Friday the company is seriously considering a 10 percent across-the-board pay cut for executives as one of several options to reduce operating costs.

Analysts said a 10 percent cut wouldn't slash much off bottom-line costs of the financially healthy company, which saw sales hit $5.6-billion and earnings reach $475-million in its last fiscal year.