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Montreal-based information-technology consultant CGI Inc. paid zero bonuses to its top three executives and clawed back millions of dollars in stock awards after the company missed financial targets in its recently-completed, COVID-19-wracked fiscal year.
CGI is the largest publicly traded tech company in Canada by revenue, with more than $12-billion in sales in its fiscal year ended Sept. 30. About one-third of its sales are to the public sector, with the U.S. federal government its single biggest customer. But two-thirds of its sales are to private companies, many of which cut back on costs and delayed decisions on big-ticket IT projects as the COVID-19 pandemic shook the global economy.