The 359th richest man in the United States has decided that the workers with the highest salaries in Silicon Valley need to get by with less. At least, that’s one way of looking at Elliott Management’s campaign to shake things up at Juniper Networks. The hedge fund founded and run by billionaire Paul Singer just announced that it now owns 6.2% of the networking equipment maker and called out Juniper’s pay ranking as an indication the company’s costs are too high and its R&D spending “excessive.”
When an Activist Hedge Fund Thinks a Company’s Salaries Are Too High, Who’s Right?
An activist investor sets its sights on Juniper Networks.
January 14, 2014
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Strengthen your fluency in financial statements.