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COPYRIGHT 2001 Asia Pulse Pty Ltd
MELBOURNE, Oct 26 Asia Pulse - Australia's Seven Network (ASX:SEV) is set to slash costs, following the company's annual general meeting.
Senior management have offered to take a pay cut, while executive chairman Kerry Stokes today promised shareholders the board would slash its own costs by 20 per cent.
Mr Stokes declined to comment on how much of a cut Seven's executives volunteered, although he said it was a "significant" number.
He told the company's annual general meeting the symbolism of...
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