BT's bosses have decided not to take a bonus for the next two years as the telecoms giant works its way through the coronavirus crisis.
The decision by chief executive Philip Jansen and finance chief Simon Lowth to defer their bonuses comes just one week after the company suspended its dividend for the first time in 36 years.
It means that the two executives combined cash £2.2 million bonus payments for this year will be turned into shares, according to Sky News.
It comes as Jansen announced in March to donate his salary for six months to health charities and small businesses.
London headquartered BT has been trying to preserve cash and there has been mounting speculation that the company could sell a major stake in its £20 billion Openreach engineering arm - although an internal memo to staff last week denied the reports.
The idea behind the sale was that BT could invest the money in the £12 billion rollout of high speed broadband. BT has set an ambition to cover 20 million homes and businesses by the mid-2020s.
BT's shares have been weak even before coronavirus struck amid concerns about the huge risks the company's investment programme might mean for investors. Rising competition from rival broadband companies laying fibre has also hurt sentiment.
BT declined to comment.
