Telecoms group Cable & Wireless is introducing a £220 million bonus scheme for its top executives in a bid to revive the company's fortunes.
The move comes only weeks after the group, which employs hundreds of people in the West Midlands, said it planned to axe up to 3,000 jobs over the next five years.
Under the scheme, John Pluthero and Harris Jones, who are managing directors of C&W's UK and international divisions, would receive £22 million each if all targets are hit.
Their targets would include seeing the group's share price rise from its closing level of 100p on Friday to more than 220p, while the two divisions would also have to grow by more than eight per cent a year.
This would mean increasing C&W's market cap from £1.9 billion now to £3.6 billion by April 2010. The UK arm would have to grow from £700 million to £2 billion.
The remaining £176 million of the bonus scheme would be split between 60 senior mangers.
A further incentive scheme is being proposed for group managing director Tony Rice and finance director George Battersby.
The scheme aims to continue the process of reviving C&W's fortunes after its shares hit a 15-month low following a p rofits warning in February.