THE GREAT PAY DROP: HOW RETAIL BOSSES ARE FEELING THE PINCH

Was £3.7m
Now £3.4m

Sainsbury chief Justin King takes a 9pc cut to total pay package from £3.7m to £3.4m

Was £1.02m

Now £663k

Marks & Spencer chief Marc Bolland sees bonus cut by 50pc from £1.02m to £663,000.

Was £574k
Now £354m

Ocado chief Tim Steiner was paid £354,000, down from £574,000 last year.

Tesco chief executive Philip Clarke waived £372,000 bonus

I wasn’t satisfied with the performance in the UK.