Gannett Announces Pay Cuts and Furloughs as a Result of Coronavirus Crisis
USA Today publisher Gannett announced pay cuts and mandatory furloughs as a result of the coronavirus crisis, reports the New York Post.
The Post’s post said that McLean, VA-based Gannett executives “will take a 25 percent pay cut and CEO Paul Bascobert will forgo his salary entirely until the pay reductions and furloughs cease and the coronavirus pandemic has subsided, Bascobert said in a memo to staffers.
“The furloughs will apply on a rolling basis to staffers who make over $38,000 a year through June, Maribel Wadsworth, Gannett’s president of news and publisher of USA Today, said.
“Bascobert’s memo asked staffers from across Gannett’s newspapers to make a “collective sacrifice” to get through the crisis, which has taken a major toll on newspapers’ advertising revenues.”
More here.
